Why bitcoin hasn't gone to zero?

18 June, 2019

Bitcoin is back! The world’s No. 1 cryptocurrency is on fire, with a price approaching $10,000, pushing the digital asset near its highest level in more than 14 months, according to MarketWatch data provided by CoinDesk.

A single bitcoin BTCUSD, -0.72% most recently, was trading at $9, 218.21, after putting in a December low at $3,194.96. Its current level is bitcoin’s loftiest level since March 29, 2018 when a bitcoin changed hands above $9,700.

Moreover, bitcoin trading on the CME Group’s futures exchange for June delivery BTCM19, -1.12% was at $9,265, up 9.7% on the day, representing a 153% surge for bitcoin futures for the year to date.

Growing interest

Trading of bitcoin has been climbing, as reflected in futures activity on CME Group. Over the past several weeks bitcoin futures trading activity, gauged by its moving average since inception of bitcoin trading is at a record (see chart below).

Facebook’s libra

Reports that Facebook Inc. FB, +4.24% is about to roll out a cryptocurrency as soon as Tuesday has helped bitcoin to notch its best weekly trading period in about three weeks. The social-media giant will unveil a new crypto-payment platform that could facilitate digital payments not just on Facebook’s site but anywhere on the internet. Participants reportedly include an array of heavyweight backers, like Mastercard Inc., PayPal Holdings Inc., UberTechnologies and Visa Inc.

Ripple effect?

Shares of MoneyGram International Inc.  soared late-Monday after Ripple Inc., a blockchain startup behind the XRP coin agreed to invest up to $50 million in the money-transfer company, marking another powerful event for cyptos.


Source link   Presented by FxPro

Litecoin Price May Crash Near Halving

Just as the Litecoin halving is less than a month away, the number four cryptocurrency is starting to show signs of weakness. After posting a 2019 high...

Crypto market took cautions support

Over the past 24 hours, the BTC has added more than 5% and traded around $10,700. Bitcoin and other cryptocurrencies are attracting buyers...

Flawed Miner Rewarding Monetary System

Bitcoin might have outperformed the global bond market in 2019, but it remains a bad investment, believes Roy Sebag of GoldMoney...


Cruel turnaround of the cryptomarket

Bitcoin dropped by almost 12% over the past 24 hours and is trading at around $11,500, after unsuccessful attempts to gain a foothold above $13K...

Bitcoin spiked to 18-month highs

The price of Bitcoin spiked at night by more than $1,200, or almost 11% above $12,500. Along with the price, trading volumes also grew...

Promising side way dynamic for the BTC

The weekend did not become for Bitcoin the starting point for large-scale dynamics in either direction. By Monday morning, the benchmark...


Reasons for future altcoins collapse

As bitcoin roars back into a bull market, traders are eagerly awaiting alt-season - a parabolic jump in altcoins that historically follows bitcoin...

Bitcoin reversed and touched $12000

After a 30% correction, Bitcoin reversed and touched $12,000. By Thursday morning, the first cryptocurrency is falling, trading around $11,700 as part...

Bitcoin spiked as people hurry to buy the dip

Over the past 24 hours, Bitcoin spiked by $1,750 or more than 16% and is now trading at around $11,500. Trading volumes also slightly increased...

  


Share it on:   or