Bitcoin price (BTC/USD) reaches new 2019 high above $9,700
Bitcoin’s latest rally follows the recent announcement of Facebook’s Libra cryptocurrency. Some observers believe that the social media giant’s move into crypto could provide a significant boost for the industry. Among them is Fundstrat Global Advisors’ head of research Tom Lee, who recently described the move as “a complete validation that mainstream is now focused on cryptocurrencies”. Lee also views Libra as “very complementary” to Bitcoin.
In other positive news, US derivatives marketplace operator CME Group announced in a Wednesday tweet that the open interest in its Bitcoin (BTC) futures product has reached an all-time high on Tuesday. The company views this as a sign of growing institutional interest.
“CME Bitcoin futures (BTC) shows growing signs of institutional interest. BTC open interest rose by a record 643 contracts in a single day, establishing a new all-time high of 5,311 contracts on June 17,” the tweet reads.
In today’s trading, the Bitcoin price stood at $9,724.50, as of 07:08 BST. The digital currency has gained 4.6% in the past 24 hours. Its total market capitalisation currently stands at $172.8 billion, which represents 57.8% of the combined value of all digital currencies.
Featured image: Jaruwan Jaiyangyuen / Shutterstock.com
More Resources
The post Bitcoin price (BTC/USD) reaches new 2019 high above $9,700 appeared first on The Independent Republic.
source: https://theindependentrepublic.com/bitcoin-price-btc-usd-reaches-new-2019-high-above-9700/
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!
Article comments