Bitcoin Exceeds $10k Barrier, Highest Rate Since October

  • Bitcoin prices fluctuated with an average of 2.5%, as they were traded at prices ranging between $9,659 and $9,899.
  • The cryptocurrency markets are still awaiting the official launch of Libra for trading, in which the concept of monetary currencies around the world will change.
  • Ripple cryptocurrency has the third-largest market capitalization of cryptocurrencies this coin was founded in 2012.

The Bitcoin cryptocurrency crossed the $10,000 barrier, its highest rate since last October. News sources reported that Bitcoin recorded a rise of 2.6 percent yesterday to reach $10,000, achieving an increase of about 40 percent so far this year. Bitcoin has recorded a rise of 1.2% since 5:00 PM on Friday (EST), to reach $9,863 at 12:00 in New York, according to the cryptocurrency trading platform (Bitstamp), based in Luxembourg.

Bitcoin(₿) is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

Bitcoin prices fluctuated with an average of 2.5%, as they were traded at prices ranging between $9,659 and $9,899. ​​The currency is currently 50 percent less than these prices on the high level recorded on December 17, 2017, amounting to $19,666.

The cryptocurrency markets are still awaiting the official launch of Libra for trading, in which the concept of monetary currencies around the world will change. On the one hand, it will facilitate the movements of money internationally, and on the other hand, it will increase the risk of suspicious financial operations and how to track their source.

According to Facebook’s plans, Libra was scheduled to be launched in dozens of countries during the first quarter of 2020. However, this plan is sure to be postponed, as it was planned to launch the initial cryptocurrency trials at the end of 2019, which did not happen. This was confirmed by one of Libra’s innovators, David Marcus from Facebook, as he said that the regulatory obstacles might delay the launch beyond the planned June date.

Since Facebook’s announcement to launch Libra in the middle of last year, official statements have been received from officials and heads of state, including one who is a supporter and the other is strongly opposed. However, this currency, which revived other cryptocurrencies, is still working on improvements in its platform. Among these, announced in mid-2019, were announcements to address the concerns raised by regulators and politicians regarding privacy and its potential impact on monetary policies of central banks. In addition, Libra’s potential to change the global financial landscape as a whole was raised.

The leading digital currency has gradually increased since its creation in 2009 until it reached a peak of more than $19,000 in 2018. It started in 2019 with low liquidity and expectations, and closed the month of January at $3,713, just above $4,000. In February, Bitcoin reached below $3,500. Bitcoin resumed its rise in the second half of 2019, recording its highest level near $14,000, and then retreated to close the year with slightly higher than $7,100.

Libra is a permissioned blockchain digital currency proposed by the American social media company Facebook, Inc. The currency and network do not yet exist, and only rudimentary experimental code has been released.

Ethereum

Ethereum is another close-competing cryptocurrency to Bitcoin that was established in 2015. The cryptocurrency and blockchain platform has risen over these years. Ethereal started in 2019, to fall down more than 90% from an all-time high in 2017, however, it rose in 2019 with steady growth, followed by the two bitcoin lines.

Ripple

Ripple has the third-largest market capitalization of cryptocurrencies, this coin was founded in 2012, was intentionally focused on, and created as a solution to make international transactions as fast as possible. Ripple launched a number of powerful flagship products, such as xRapid, that are now used by more than 100 institutions to pay international payments. Ripple began in 2019, just like others at a low level and rose in June at $0.47, but fell to low levels at $0.19 at the end of the year, such as Bitcoin and Ethereum.

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Joyce Davis

My history goes back to 2002 and I  worked as a reporter, interviewer, news editor, copy editor, managing editor, newsletter founder, almanac profiler, and news radio broadcaster.

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