News Bitcoin pulls back from 18-month highs after 10% weekend...

Bitcoin pulls back from 18-month highs after 10% weekend jump

-

- Advertisment -

LONDON (Reuters) – Bitcoin pulled back from 18-month highs on Monday after jumping more than 10% over the weekend, with analysts ascribing the spike to growing optimism over the adoption of cryptocurrencies after Facebook unveiled its Libra digital coin.

The biggest cryptocurrency touched $11,247.63 on the Bitstamp exchange on Sunday, its highest since March last year. On Monday morning it had pulled back from those highs, and was last down 0.5% at $10,786.

Mati Greenspan, an analyst at eToro, said the gains underscored optimism among retail investors over moves by major companies to adopt cryptocurrencies.

“Traders are speculating on future involvement of large players like Facebook,” he said. “They believe that Libra will create mass awareness of cryptocurrencies and act as a gateway to adoption.”

Facebook announced ambitious plans last week to launch a new global cryptocurrency called Libra.

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

GoCrypto presents truly contactless payments with a simple solution for merchants and buyers

7 April 2020 — The recent events have rapidly changed the way we live, including our shopping...

Bitcoin SV has found a new niche in the gaming industry

Gaming companies and online casinos are increasingly paying attention to cryptocurrencies as a possible payment tool. Several...

Why could GLBrain become a great solution to receive support during the crisis?

To support smaller and medium-sized businesses during the ongoing crisis, GLBrain offers services cost-free for all Austrians....

Make Fast and Secure Trades Using Bitengo.io

Bitengo.io is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...
- Advertisement -Bitcoin pulls back from 18-month highs after 10% weekend jump

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you