The bitcoin currency continued to achieve its gains during the past week, which was temporarily halted in the week preceding it due to the activity of corrections and profit taking, after it reached its highest level in five months at $ 5466, and these gains come with the high rates of demand to buy the bitcoin IQ Option And the entry of more cash into the market, and we also see an increase in interest in digital currencies and the need to regulate them and add some Sharia to them.
Bitcoin gains last week towards 2.6% amid intense attempts to reach again the psychological support level of $5300, and the bullish momentum continues to dominate the performance of the digital market.
Among the news circulated last week regarding the digital market:
– The Financial Times said at the beginning of the week that the International Monetary Fund and the World Bank launched a digital currency under the name “Learning Currency” aimed at studying the technologies and technology behind digital currencies in addition to learning about smart contracts and challenges across the crypto ecosystem, and this currency will not have any value materiality.
– A report issued by the cryptocurrency exchange Binance stated that Bitcoin has established its long-term bearish bottom, which is near the levels of 3000 dollars.
– In the United Kingdom, Corporate Traveler, Britain’s largest travel management company, announced the acceptance of bitcoin as a method of payment, and the company excused this decision to the increasing demand from its business customers with the option to pay in bitcoin, and said that it had chosen BitPay to manage the processing of the process of obtaining bitcoin from the customer Deposit funds into accounts.
– As for France, the media reported that France had approved a law for the financial sector that includes regulations aimed at encouraging cryptocurrency issuers and traders to reside in France by giving them some official recognition. France’s Finance Minister Bruno Le Maire commented That her country would apply to the European Union for the adoption of this regulatory framework.
Among the news that got a lot of investor interest is the partnership between Coinbase and Visa to launch a cryptocurrency card called Coinbase Card The cryptocurrency wallet will be linked to the customer’s account, and the card holder will have the ability to spend digital currencies with ease to deal like paper money in banks, and reports stated that the card will also allow for withdrawals from ATMs.
In separate news from Coinbase, a report said the company is currently expanding its reach to 11 countries in Latin America and Southeast Asia.
Binance, a large cryptocurrency exchange, reported that it achieved profits of about $78 million during the first quarter of this year, an increase of about 66% on a quarterly basis, and also said that it achieved over the course of 2018 about $47 million in net profits.
In Japan, Rakuten, the e-commerce giant in Japan, stated that it will officially enter the cryptocurrency market by launching a trading platform licensed by the country’s regulators. Last month, the company was able to obtain approval to operate the exchange by an agency Financial services for the company to operate legally and licensed in the country.
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