Bitcoin Price Chart Now Looks 'Ridiculous' After Record Gains: Analyst

Bitcoin held above $9,000 on Oct. 28 as a weekend of bullish madness continued to captivate markets.

Bitcoin price mulls next move amid $8.8K warning.

Data from Coin360 showed volatility remaining elevated for Bitcoin on Monday, with swings between $9,100 and $9,900 characterizing the past 24 hours.

On Friday, news that China was officially embracing blockchain technology appeared to reawaken enthusiasm across cryptocurrency markets.

Those levels have since consolidated, with the press time price of $9,400 nonetheless corresponding to 3-day gains of 25%.Bitcoin seven-day price chart.

China fuelled the mood once more as the week began, Cointelegraph reporting on the news a major national bank had sealed an investment deal in a Bitcoin wallet provider.

"The chart obviously looks completely ridiculous now and CME are going to open with a gap to the upside if prices remain like this," Cointelegraph contributor filbfilb told subscribers of his dedicated Telegram channel over the weekend.

Altcoins likewise maintained higher levels after rising precipitously in line with Bitcoin.

Ether, the largest altcoin by market cap, meanwhile saw sideways movements on Monday, with daily gains of just 1.5% to $182.Ether seven-day price chart.

The overall cryptocurrency market cap hit $250 billion, with Bitcoin's share at 68%.Keep track of top crypto markets in real time here.