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Cryptocurrency rises led by Bitcoin during Monday trading

2019-07-22 12:32 pm | Resource: News | No Views : 68

Cryptocurrency rises led by Bitcoin during Monday trading Bitcoin recently rose above the resistance level of $ 11000 against the US dollar. The price has risen around $ 11,200 and recently corrected below $ 10,800.

After a successful closing above the pivotal level of $ 10,000, Bitcoin extended its gains against the US dollar. BTC / USD broke the resistance levels $ 10,500 and $ 10,800. Moreover, the pair stabilized above the $ 10500 level and the average simple movement per 100 hours. Finally, the price broke the resistance level $ 11000. Finally, a new swing high has been formed near $ 11,200, and the pair has recently started a bearish correction.

Bitcoin (BTC) is increasingly seen as a "safe haven" by many traders, and its potential as a gold value store is the most important case of use. However, recent price declines in BTC have prompted some investors to turn their money into silver, as a third option to store value.

"I think one of the reasons for the rise in silver ... is that the Bitcoin type has been removed from the safe haven list because of its recent volatility, so there was something that should replace it," said veteran trader Jim Yurio. While the currency of Bitcoin fell from a weekly high of more than $ 11,000 (down $ 2 thousand from a yearly high of only a few weeks ago) to a low of $ 9180 over the past seven days, silver rose steadily to a new high in 2019 On Thursday. Gold followed suit after 24 hours, trading at its highest level in six years.

Continue serial criticism of Cryptocurrency

James Bullard, chairman of the Federal Reserve Bank of St. Louis, told an academic conference on Friday that possible illegal activities and instability caused by Cryptocurrency were changing the US currency system. "The current situation can be described as a drift toward a non-uniform currency in the United States," Pollard said.

He added that consumers and companies may not "like a non-uniform currency in which many types of currencies are traded at a time with a variety of prices in the domestic market" which could lead to more voluntary transactions. "In real world, some of these transactions may now be non- Legal or quasi-legal ".

Cryptocurrency trades
  • Bitcoin recorded high trading at $ 10.301.6, up 0.06% a day.
  • Ethereum were trading at $ 221.13, down 0.78%.
  • Bitcoin Cash recorded a decline of 1.35% to trade at 318.71.
  • The ripple recorded a decline of 0.27% to trade at $ 0.327.

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