Bitcoin’s breakout above $63,300 on Monday to an all-time high is “constructive technically” and we should see prices rise to $72,000 initially and then $77,600, according to FSInsight, a markets strategy and research firm. FSInsight notes that bitcoin momentum isn’t overbought yet on daily or weekly timeframes. A breakout in bitcoin’s market-cap dominance chart means it may outperform alternative coins (altcoins) in the near term, FSInsight said.
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Matt Hougan, Bitwise CIO, joins Yahoo Finance Live to discuss the new crypto index fund and the overall state of cryptocurrency amid increased regulation.