Bitcoin trading price rises, achieving the fourth consecutive weekly rise, as the bull market continues

Bitcoin trading witnessed an increase over the course of trading last week, as it achieved gains of about 6.6% for the fourth consecutive week, in light of the continued control of the bull market on the transactions of the largest digital currency in the world.

At the beginning of last week, the bitcoin currency fell below the psychological support level of $ 8000 due to correction and profit taking, after it recorded its highest level in ten months at $ 8,390, and then returned to recovery at the end of the week’s trading to approach the levels of $ 8000, with the increasing relative demand for buying Digital currencies, and the bitcoin currency still needs more positive motives that contribute to the entry of bitcoin in a wave of strong recovery and crossed the levels of $ 8000.

Some analysts at JPMorgan believe that the strong and broad rise in Bitcoin trading, which made it reach the $8,300 level, gave Bitcoin a much higher value than its true value, and there are some similarities in the current rise and the sudden rise that occurred at the end of 2017.

bitcoin trading - may 29,

Bitcoin trading

Here are the most important bitcoin trading news that were traded during the past week:

The US Securities and Exchange Commission said in a statement on May 20 that it will postpone the decision on whether to include bitcoin in exchange-traded funds. IQ Option submitted by VanEck and SoildX until August 19.

The commission excused its decision by needing more time to further analyze the proposed rule change that would require the SEC's rules to be designed to prevent fraud, promote fair trading principles and protect investors, and that news negatively affected Bitcoin's performance.

The digital markets are following with interest the news of Facebook and its embrace of the new technology. The latest reports indicated that the social media giant Facebook has established a company in Switzerland for digital currencies and registered under the name Libra Networks. The company aims to develop the Libra project, which will launch a payments network based on a digital currency linked In US dollars.

In Japan, it was reported that the Senate of Parliament approved a new crypto system called the Financial Instruments Act, the Exchange Act and the Payment Services Act, and virtual currencies are referred to as crypto assets, and the new system will come into effect within the next few months.

Russia is still on its way to adopting cryptocurrencies. The Deputy Governor of the Russian Central Bank, Olga Skorbogatova, said that the draft digital financial assets bill will be officially adopted within the next few months. It is noteworthy that Russian President Vladimir Putin issued a direct order in February. / February, with the adoption of regulations for digital currencies and the crypto industry, and they will be officially dealt with next July.

The American telecom giant said AT&T It will accept cryptocurrency payment transactions through online billing through the BitPay platform that converts cryptocurrencies into fiat currencies, and this platform is used by more than 20,000 companies, and this is a very important step towards a broader official adoption of cryptocurrencies.

Mohamed Abdel Khaleq

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