Thu, March 28, 2024

Digital Coins: Bitcoin Surges to $13,000 Level

facebook and bitcoin

On Wednesday in Asia, the largest digital coins by market cap Bitcoin rally continued. In the past seven days, as much as 15% increased at the digital coins.

It has advanced to $13,088 before the usual time. Bitcoin progressed as much as 2% to $12,942.7.

When the co-creator of Facebook’s Libra, David Marcus, addressed a letter to the House Financial Services Committee in advance of the approaching hearings for the tech giant’s proposed launch of Libra, Bitcoin prices gained.

Furthermore, Marcus wrote, “I want to give you my personal assurance that we are committed to taking the time to do this right.”

Last month, Chairwoman of the House Financial Services Committee Maxine Waters composed a statement to convey concerns regarding Libra.

Libra is Facebook’s new digital coin.

Inside the note was, “Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency.”

She also said, “until Congress and regulators have the opportunity to examine these issues and take action.”

Regardless of the news, Bitcoin soared to as much as 13,000 this week from the very little $7,700 in early June.

A chief market strategist at Oanda Corp. in New York, Edward Moya said, the key would be an ongoing institutional demand referring to the next high.

Moya stated, “Bitcoin looks like it could be coiling for a big breakout as institutional interest for blockchain technology shows no signs of slowing down,”

Besides, he added, that the bubble-like gains this time are driven by solid institutional interest.

Also, he sees that while security is still a big risk, it appears Bitcoin has overcome many of its initial growing pains.

Today, other cryptocurrencies traded lower. Ethereum was below 1.5%, XRP dropped 2.9%, while Litecoin weakened 3.3%.

Digital Coins: Ethereum to Surpass 320 Dollars

Stack of ethereum on gold background.

Meanwhile, ETH price gained above the $310 resistance area versus the US Dollar.

To be able to climb above the resistance zone that is $320, the price must break the $315 resistance area.

The gain is likely to signify that the Ethereum price could break the 320 Dollar resistance area.

On the flip side, Ethereum struggled against Bitcoin, but ETH price will remain well maintained on the shortcoming as long as above $302.

However, there was no new weekly high in Ethereum. It has remained stable above the $300 and $302 support level.

A downside correction was started from the $318 swing high and traded below the $310 support area.

On the other hand, along with the 100-hour simple moving average, the $302 support zone represented strong support.

At $302.80, a swing low happened. But recently, the prices scaled back above the $306 and $308 levels.

Moreover, it improved above the 50% Fib retracement level of the recent weakening from the $318 high to $302 swing low.

The digital coins are now trading well above the $310 level.

From the $318 high to $302 swing low, the pair is currently trading near the 61.8% Fib retracement level of the recent decline.

Ethereum price could continue to rise if there is an upside break above the $314 and $315 resistance level.

The price is likely to break the last swing high near $318 in the mentioned case and trade to a new weekly high above $320.

Interested in Trading Bitcoin or Ripple? Read WiBestBroker’s comprehensive review on Uptos.

YOU MAY ALSO LIKE

Dollar and Euro

Quick Look: EUR/USD rate Dips to 1.0820 during the Asian session. The US

Domino Pizza

Quick Look: Domino’s stock surges by 8.32% over the past week, hitting

Coffee

Quick Look: The coffee market consolidates amid regulations, environmental worries, and supply

COMMENTS

15 responses to “Digital Coins: Bitcoin Surges to $13,000 Level”

  1. coin master spins says:

    will get 5 spins from coin master. You can get 40 spins

  2. coin master free spins 2021 says:

    HOW TO GET COIN MASTER FREE SPINS 2021: Apart from just taking the daily links above

  3. free tiktok followers says:

    This generator allows users to get free tiktok followers completely for free.

  4. payday loans online says:

    please fax or e-mail Check `n Go your latest pay stub when applying to ensure timely processing of your loan

  5. Homepage says:

    All skins unlocked, always imposter mod. Use this hack mod to play Among US Hack Mod Menu with

Leave a Comment

Your email address will not be published. Required fields are marked *

BROKER NEWS

Plus500 Expands Office Space in Haifa and Boosts Hiring

Plus500 has significantly expanded its Haifa office space and increased recruitment efforts across various departments. Local news source Walla reports the brokerage has leased an additional 5,800 square meters in the Gev-Yam complex

BROKER NEWS

Stock Report – stock exchange background – WibestBroker

Plus500 Expands Office Space in Haifa and Boosts Hiring

Plus500 has significantly expanded its Haifa office space and increased recruitment efforts across various departments. Local news source Walla reports the brokerage has leased an additional 5,800 square meters in the Gev-Yam complex in