Bitcoin price (BTC/USD) tops $11,000 mark following strong weekend
Some experts have suggested that geopolitical tensions, such as the ongoing trading war between the US and China may be boosting the cryptocurrency’s appeal as a store of value.
“With the turmoil in markets and the streets, suddenly digital gold doesn’t seem like such a bad idea,” Jehan Chu, managing partner at blockchain investment and advisory firm Kenetic Capital told Bloomberg. “Bitcoin is increasingly seen not only as a bet on the future, but as a shelter for the present.”
Charles Yang, head trader at Hong Kong-based over-the-counter digital-asset trading firm Genesis Block said that BTC should test $12,000 soon. “This is, of course, assuming we believe macro issues actually drive Bitcoin,” he added.
In today’ trading, the Bitcoin price stood at $11,720.20, as of 10:45 BST. The digital coin has gained 9.4% in the past 24 hours. The coin’s total market capitalisation currently stands at $209.3 billion, which represents 67.8% of the combined value of all digital currencies.
Featured image: Igor Batrakov / Shutterstock.com
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source: https://theindependentrepublic.com/bitcoin-price-btc-usd-tops-11000-mark-following-strong-weekend/
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