BITCOIN : Is this the bottom?

Bitcoin moved significantly higher on Feb. 16, as the world’s largest cryptocurrency hit its strongest point since last August. Prices neared the $25,000 mark earlier in the day, following a breakout of a key resistance level. Several factors have contributed to the rally including strong U.S. retail sales, and an easing of regulatory concerns.

Bitcoin (BTC) raced to a multi-month high on Thursday, as prices moved closer to the long-coveted $25,000 mark.

Following a low of $22,664.48 on Wednesday, BTC/USD rose to an intraday high of $24,769.24 earlier today.

Today’s move pushes the world’s largest cryptocurrency above a ceiling at $24,200, hitting its strongest point since August 20 in the process