Bitcoin surges above $18K to cap 8-day winning streak
Bitcoin (BTC) has clocked eight straight days of increasing prices and has surged back above $18,000 for the first time since mid-December.
The cryptocurrency hadn't recorded such a prolonged winning streak since July 2021, at the height of the COVID-19 pandemic.
Over the last seven days, the price of BTC has increased nearly 8%, with a 4.1% surge in the last 24 hours at the time of writing.
Cointelegraph analysts predicted Bitcoin could rally to $18,000 as it's upward price movement put pressure on $275 million worth of weekly options expiring Jan. 13, with bets placed at $16,500 and lower.
BTC's price fell nearly 65% over 2022. The wider crypto market also faced headwinds resulting from numerous bankruptcies and collapses in the space in the same year.
Bitcoin gained 300% in year before last halving — Is 2023 different?
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