Bitcoin Recovers But Still Hovers Below $10,000 By Investing.com


© Reuters.

Investing.com – prices recovered on Thursday in Asia but is still trading below the $10,000 level.

Bitcoin last traded at $9,800.5 by 12:23 AM ET (04:23 GMT), up 4.1%.

jumped 7.7% to $214.33, gained 4.8% to 0.31278 while surged 11.2% to 89.128.

The rebound came after some heavy selling in the past week after global central banks warned against Facebook’s plan to launch its own cryptocurrency, Libra.

Several lawmakers on Wednesday called on Facebook (NASDAQ:) to halt its development until Congress and regulators had the opportunity to assess concerns around the social media company’s cryptocurrency.

The lawmakers described the company’s proposal as a toddler playing matches who burns the house down and criticised the company for repeatedly violating consumers’ privacy. During the hearing, a U.S. senator said the social media giant was “delusional” to believe people will trust it with their money.

U.S. President Donald Trump and Treasury Secretary Steve Mnuchin also joined critics on Libra and expressed serious concerns about the proposal earlier this month.

In other news, Reuters reported on Thursday that Japan is leading a global development to set up an international network for cryptocurrency payments.

Citing a person familiar with the plan, the report said the network is expected to be in place in the next few years, although the article did not explain how the network would work.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *