Bitcoin Briefly Breaks $11,000, Analysts Differ on Likelihood of Further Growth

By Yana Berman

The world’s largest cryptocurrency Bitcoin has briefly broken the $11,000 threshold on Monday, June 24, according to data from cryptocurrency information hub CoinMarketCap.

                                

Following a week marked by a rise of almost 17%, Bitcoin reached $11,230 earlier this Monday. This is its highest price point since early March 2018, when the cryptocurrency was undergoing a severe downward trend.

Bitcoin Briefly Breaks $11,000, Analysts Differ on Likelihood of Further Growth

As per Google Trends, the popularity of Google searches for “bitcoin” has been on the rise during the last week, as price euphoria is growing.

While the traditional financial analysts are cautious about Bitcoin’s rapid growth, cryptocurrency commentators are predicting further growth for the leading crypto. For instance, Bitcoin Knowledge podcast host Trace Mayer tweeted that he expects the price to reach $21,000 by the end of 2019.

Prior to the latest Bitcoin takeoff, Facebook announced the launch of its own cryptocurrency Libra. Its blockchain is set to be governed by nodes owned by major companies, such as Visa and Paypal, and is to be deployed in 2020.

Facebook’s reveal of Libra has caused the first-ever international regulatory move to enforce control over cryptocurrency. Financial Action Task Force (FATF), an intergovernmental body created to combat money laundering, has urged its member countries to tighten their anti-money-laundering policies in crypto space.

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image