Bitcoin prices were trading marginally lower on Monday but had barely moved off last week’s level, which took the best-known digital currency to its highest level in three weeks.
In early trading, one bitcoin BTCUSD, +0.06% was fetching $3,629.70, down 0.2% since Sunday at 5 p.m. Eastern Time on the Kraken exchange. The cryptocurrency traded above $3,700 on Friday, its highest level since Jan. 19.
What are analysts saying
After bitcoin surged to its largest daily gain of the year on Friday, Nigel Green, CEO of deVere Group, a U.K. consulting firm, is warning investors to cool their excitement. He stressed the fact that bitcoin has yet to breach key resistance at $4,000 and remains well off its all-time high.
