On Monday, after a major decline, Bitcoin was able to find support near the $8,670 level against the U.S. dollar. Nevertheless, the price fell to the lowest level since the beginning of November.
Bitcoin’s price recovered as the price broke the resistance levels above $8,800 and $8,900. Bitcoin continued to strengthen its position as the price reached more than $9,000. As a result, the price was able to reach $9,146.
However, Bitcoin struggled to retain the momentum, and the price fell below $9,000 and then to $8,674.
On November 11, Bitcoin’s price was $8,695. Bitcoin is struggling to regain its position.
Ethereum is another major digital currency. Ethereum broke the resistance levels above $186 and $188.
On Monday, the Ethereum’s price was $186. This is an important level for the cryptocurrency because if the price falls below this level, it could move back into a bearish level.
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Bitcoin and retail estate market
It is no secret that cryptocurrencies are becoming more popular around the world. An example of how the cryptocurrencies are used regularly comes from New York.
This month, Ben Shaoul, who is the owner of Magnum Real Estate Group, sold an Upper East Side retail condo in New York in Bitcoin. The price of this retail condo is $15.3 million.
Magnum is converting 389 East 89th street from rentals to condos. The buyer of the 11,400- square-foot is a company from Taiwan. Parties used Bitpay and Starr to complete the transaction.
This real estate company is actively using cryptocurrencies. Last year the company sold two residential condos using a Bitcoin transfer.
Another company that is ready to accept the Bitcoin is Brooklyn-based rental management. In 2018, the company announced that it would accept digital currencies.
Digital currencies offer a number of advantages in comparison with fiat currencies. Real estate market realized its significance when it comes to their industry.