A repeat performance from Bitcoin so far today

Once again Bitcoin rallied yesterday. The lead cryptocurrency rose from an earlier session low just underneath 56k, to back above 59k once more. The high set was once again right on the 4pm London FX fix. Now if that does not tell you something people then what does? I can explain, and the answer is simple, as has been noted here before. It is the big wholesale guys that are moving this one around and treating it like an FX product in all but name. So, anyway the high set at 4pm was at 59,095. That was a little below the high set at 4pm on Tuesday, when it topped out at 59,145. The subsequent drop back into the US close was almost identical too and of course helped by the slump in risk and the US stock markets. Earlier today it fell to as low as 55,855. Hence also replicating the move in Asia this time yesterday too. It has also rebounded just now. There will be more to add on the current range and interim outlook as the day unfolds. Bitcoin is currently trading at 56,985