Update: Bitcoin Breaches $7000 Resistance Level

Data from Cryptocompare on Bitcoins has just confirmed a breakout and breached the $7000 resistance which was said to be difficult to achieve weeks before. As of this writing, Bitcoin trade price is now around $7,058 with 4.87% gains. Minutes before breaking through the resistance, BTC/USD fell below the $7000 level to $6995 and finally an uptick to $7005.

Despite the negative sentiments shortly after the rejection on Bitcoin ETF proposals by the US Securities and Exchange Commission, the breakout proves that these decisions do have any significance to Bitcoin’s long-term health.