Bitcoin and the major digital currencies achieved significant gains last week, the largest in 2019, as the bitcoin jumped to trade at the next psychological support level of $ 4000 amid difficulty to penetrate it. The digital market, in addition to the arrival of some positive news that stimulated prices.
Bitcoin recorded last week its second weekly rise, with gains amounting to about 3%, in light of the recovery of the digital market that pushed the prices of digital currencies higher.
But the Bitcoin currency was unable to maintain the level of $ 4000, as the correction and profit-taking operations quickly activated to achieve gains from the market’s rise, in a negative sign of the continuation of volatility on the digital market, as investors remain cautious and anticipate developments in the situation.

Positive news dominated the digital markets Q8Trade Over the past week, it has been reported that Rakuten, the Japanese e-commerce giant called Amazon Japan, will use its mobile cryptocurrency payment system on March 18.
In Indonesia, the Commodity Futures Trading Regulatory Authority said that it will issue a regulation declaring the legitimacy of Bitcoin and other digital currencies as a commercial commodity. Protect people who want to invest in cryptocurrencies so that they are not deceived.
Reuters reported last week that Germany is considering entering the digital world to take advantage of blockchain technology. The government has said that it will formulate a blockchain strategy by summer like other economies such as Britain and Singapore, and so far has not imposed any formal regulatory framework for cryptocurrencies.
Tesla CEO Elon Musk said Bitcoin is great and the technology behind it is attractive, and he believes digital currency is a much better way to transfer value than fiat currencies, but one of its major drawbacks is that the computing power is very powerful.
In Asia, the Standard News Agency reported that the Bank of China is joining a new blockchain technology platform for home buyers “PropTech” launched by the New World Development Company and the Research Institute of Applied Science and Technology in Hong Kong “ASTRA”, and the company’s CEO said that working through the platform will save on At least at least eight hours of paperwork.
The Bank of Japan also issued a report last week in which it indicated that it is looking into the role of digital central bank currencies “CBDCs” and their impact on the current monetary system, and the bank added that it will work to find out the potential effects on payment efficiency, financial structure and the macro economy, despite this, the bank does not have any Instant plan to issue digital currency.
For the BoJ, this is a change from the position of Deputy BoJ Governor Masaoshi Amamiya, who said that digital currencies issued by central banks will not improve the current monetary systems.
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