Bitcoin price rises for the second week in a row as the bull market continues

The price of Bitcoin achieved high gains over the course of trading last week, as it recorded a rise of about 11% for the second week in a row, and Bitcoin was able to surpass the psychological support level of $5,500 on its way to the next psychological support level of $ 6,000. These broad gains come with continued demand rates for buying currencies On the other hand, the bull market continues to dominate bitcoin transactions, amid expectations of many that the bitcoin currency will set a new record level in the near term.

As for the total market value of digital currencies, it jumped to $181.5 billion by the end of trading last Friday, driven by the rise of the majority of the major digital currencies in the market.

On the other hand, the level of dominance of the bitcoin currency in the digital market has increased Q8 Trade It reached 55.1%, the highest level since September 2018.

Over the course of April trading, the price of Bitcoin recorded a monthly gain of 29% for the third consecutive month, marking the largest monthly rise in nearly a year.

The following are the most important developments in the price of Bitcoin:

The Finnish Financial Supervisory Authority said that the country’s president has approved the cryptocurrency service providers law, and the law will be officially implemented on May 1. Service providers will also have to comply with legal requirements and must be able to maintain customer funds and accounts.

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Bitcoin price

– It was reported that Russia will test cryptocurrencies in four regions of the country where cryptocurrencies will be tested by companies and entrepreneurs without violating federal law under the supervision of the Russian Ministry of Economy, and the four regions are Moscow, Perm Krai, Kaluga Oblast and Kaliningrad Oblast.

The US Securities and Exchange Commission has said that it will temporarily suspend Bitcoin trading on the Generation exchange from April 29 at 09:30 PM EST until May 10 at 11:59 PM ET For the United States, the authority justified this decision due to insufficient information in the market regarding the shares and activities of the stock exchange, in addition to the company's financial condition.

– A report quoting cyber security company CipherTrace stated that losses resulting from theft of cryptocurrency from exchanges and fraud-related activities rose in the first quarter of this year to reach $1.2 billion, or 70% increase from last year’s level, and during 2018 the value of the losses caused by For fraud about 1.7 billion dollars.

Facebook intends to launch its digital currency

The Wall Street Journal said that the social media giant Facebook is in many discussions with financial companies and e-commerce companies such as Visa and MasterCard in order to support the payment service known as Project Libra, which includes launching a digital currency supported by blockchain technology and linked to the US dollar.

 

Mohamed Abdel Khaleq

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