10,000 dollar mark within reach
Crypto currency Bitcoin exchange rate rises to new annual high. Growth and progress of bitcoin will take place again.
The Bitcoin continued its latest rally on Friday and is heading for 10,000 US dollars. The digital currency benefited from Facebook’s crypto advances.
The recent high of many crypto currencies continues. On Friday, the oldest and best-known digital currency, the Bitcoin, rose to around 9,800 US dollars. This is the highest level for a good year. Many traders are now very optimistic about BTC. Also other crypto currencies such as Ether or Bitcoin Cash continued to increase. The total value of all around 2270 crypto currencies now amounts to almost 300 billion dollars. That is about three times as much as at the end of 2018, but still half a trillion dollars less than at peak times at the end of 2017.
- Together with other crypto currencies, the Bitcoin benefits above all from the increasing interest of large investors and companies in digital currencies.
- On the one hand, there are always reports that larger investment houses want to enable their customers to trade in digital currencies.
- This includes Fidelity, one of the world’s largest asset managers.
Facebook crypto plans inspire the scene
In addition, there is the great potential that is currently seen in the crypto currency planned by Facebook called “Libra”. This week, the social network with 2.3 billion user accounts presented concrete plans. The differences to existing crypto currencies, in particular to the “primary rock” Bitcoin , are however large. The BayernLB analysts, for example, are of the opinion that Libra is basically not a new crypto currency, but comes closer to a payment system such as Paypal.
Despite some considerable differences in the concepts, existing digital currencies are also benefiting from the Facebook plans. Since the beginning of the year, Bitcoin, for example, has risen by almost 170 percent, and the share price has more than tripled since the interim low in December. However, the record high of 20,000 dollars, reached at the end of 2017, is significantly higher. The violent crash that followed was due in part to the regulatory efforts of many countries. However, the Bitcoin share price has been rising again for several months now.