Bitcoin records its third weekly rise, to remain conservative at the $ 7000 level

The bitcoin currency witnessed a rise during the past week, achieving a gain of 8.8%, to record the third weekly rise in a row, and the bitcoin currency was able to maintain the psychological support level of $ 7000 on its way to exceed the level of $ 7500, and this continuous improvement comes in the context of the increasing demand for buying currencies In light of the positive news of the digital markets and the presence of stimuli that drive purchases.

The majority of other digital currencies also rose, bringing the total market capitalization of digital currencies close to $233 billion, which is the highest level since August 10.

Currency prices supported the optimism of digital markets and its investors with the decision of the US Securities and Exchange Commission to re-review the decision of its employees to reject nine applications for the inclusion of bitcoin in exchange-traded funds, citing concerns related to scams and manipulation of currency prices, but the reason for their initial rejection was concerns about scams and manipulation of currency prices. A date is set for this review.


Bitcoin News

Elsewhere, Iran announced its new digital currency backed by the state, and Iran said that the main source of the currency is the Central Bank of Iran and the currency cannot be extracted from anywhere else and the size of the issuance depends on the decision of the bank itself, this decision comes in response to the economic sanctions it imposes The United States on Iran.

Technical analyst Tom Lee said that Bitcoin is likely to rise sharply by the end of this year and its price is expected to reach $25,000, due to improved buying during the last quarter of this year.

In India, a report stated that the Central Bank of India launched a new business unit whose mission is to conduct research on the Bitcoin currency and the technology behind it.

Radio Free Asia reported that North Korea will host an international conference for the crypto industry, the first of its kind in the country, scheduled to take place at the beginning of October.

Among the statements supporting cryptocurrency prices over the past week, JPMorgan’s chief information officer, Laurie Beer, said during a conference in Buenos Aires that the next technology is blockchain technology and is expected to replace the existing technology within the next few years. We are likely to see an expansion in the uses of blockchain technology to replace many other technologies.

In Europe, Bloomberg said that it is possible that the 28 European Union financial and economic affairs ministers will meet in an informal meeting to discuss blockchain technology, the crypto industry, the possibility of tightening regulations, and the use of digital currencies in tax evasion, terrorist financing and money laundering, and this is supposed to be held The meeting is on 7 September in Vienna.

Mohamed Abdel Khaleq

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