Bitcoin Overcomes Its Malaise To Surpass The $40,000 Level

<p>Bitcoin prices went above the $40,000 barrier Monday, seemingly breaking out of the stalemate that had developed over the previous few weeks.</p> <p>According to CoinDesk data, the world's most popular digital currency surpassed that level late this morning.</p> <p>It was up more than 20% from the more than six-month low reached in late January, according to additional CoinDesk data.</p> <p>Since breaking above the psychological barrier of $40,000, the cryptocurrency has maintained a pretty narrow range.</p> <p>While the digital asset fluctuated within this range, it achieved an intraday high of $40,901.18 about 3 p.m. EST.</p> <p>Why has bitcoin seen such recent gains?</p> <p>Numerous publications, including those in MarketWatch and CoinDesk, referenced the recent US jobs report, which indicated that companies added 467,000 jobs in January.</p> <p>ADDITIONAL INFORMATION FOR YOU</p> <p>Cryptocurrency Price Forecast: $100,000 Bitcoin Could Arrive Even Sooner Than You Think, With Ethereum Leading the Way JPMorgan Warns That Major Investors Are Suddenly Switching From Bitcoin To Ethereum Amid A $150 Billion Cryptocurrency Price Crash.</p> <p>China's Supposed 'Bitcoin Ban' Fails To Crash The Market As Twitter Adds Crypto Payments For The First Time In History.</p> <p>This amount was significantly higher than the consensus estimate of 125,000 jobs supplied by Bloomberg-polled analysts.</p> <p>Numerous market specialists who contributed to this post shared their perspectives on the subject, highlighting the critical nature of both this current jobs report and other significant variables.</p> <p>Numerous them alluded to how closely digital currency prices had tracked those of stocks, at least until lately.</p> <p>"Throughout the most of the week, Bitcoin and Ethereum were closely correlated with the SPX and Nasdaq, until early this morning, when both coins began to outperform," said Josh Olszewicz, head of research at Valkyrie Investments.</p> <p>"This separation was then accentuated further following t