Bitcoin News – Bitcoin continues to harvest gains, and the market value exceeds $ 400 billion

The positive news of bitcoin continues to recover the digital currency and compensate for the losses it incurred, after its price reached its lowest level at the beginning of this month at $ 6,440, then returned to rise strongly by more than $ 2,000 over the course of only two weeks, to jump at the end of last week to the level of $ 9001.64 and then It returns to the limited decline due to corrections and profit taking.

The bitcoin currency witnessed a rise during Monday’s trading, to continue achieving its gains for the third day in a row, as it managed to surpass the psychological support level at $8,500 on its way to the $10,000 level, and the Ethereum currency jumped to its highest level in a month and a half to continue recording gains for the second day in a row. This improvement with the increasing rates of investment demand for digital currencies and some positive statements and news.

Over the past week, the bitcoin currency rose by 6.1%, recording the second consecutive weekly rise, and over the past two weeks, the bitcoin currency added gains of more than 25% with the continued increase in investment demand on the cryptocurrency market and the decline in the large-scale selling that the currency witnessed during the month of last March .

Bitcoin News

Bitcoin News

The rise in the market value of digital currencies

During Monday's trading, the cryptocurrency market witnessed an increase in the market value of 6 billion dollars, bringing the total market value to 401 billion dollars, the highest level since last March 8.

Over the past two weeks, the cryptocurrency markets were able to recover more than $100 billion, and many see these broad and rapid gains as a result of the decline in sales with the end of the tax season in the United States, as well as the increase in financial liquidity in the market.

Analysts expect cryptocurrencies to continue their recovery and rise in the short and medium term, and they also see Bitcoin in an ideal position to start a new rally in both the short and medium term, but maintaining the strong momentum in the long term will be very difficult.

Barclays intends to create a cryptocurrency trading platform

Positive bitcoin news continues, as some reports issued last week indicated the tendency of major investment banks to invest in digital currencies, especially after Barclays Bank announced its willingness to establish a digital currency trading platform after it showed an assessment of its customers’ desire to trade cryptocurrencies.

The former director of the Scientific Bureau of Energy Trading at JPMorgan and currently Chairman of the Board of Directors of the digital investment bank “Daniel Masters” said that digital currencies and the technology behind them will definitely lead to a massive revolution in the world of the financial sector, adding that digital currencies do not create a war between them and The prevailing financial system, but it will support and develop it.

But with the rise in the market value of digital currencies, which approached a trillion dollars, governments and banks decided to confront them and not resort to regulating them. Despite that, digital currencies have become a reality that cannot be ignored. Rather, it must be dealt with as real and imposed, and we must seek to regulate it for the benefit of the systems. Finance.


Mohamed Abdel Khaleq

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