Bitcoin approached a 15-month high on Monday, with analysts ascribing the spike to growing optimism over the adoption of cryptocurrencies after Facebook unveiled its Libra digital coin.
Bitcoin hit a 15-month high on Monday after jumping more than 10 percent over the weekend, with analysts ascribing the spike to growing optimism over the adoption of cryptocurrenciesThe biggest cryptocurrency hit $11,247.62 on the Bitstamp exchange late on Sunday, its highest since March last year before pulling back slightly.
"Traders are speculating on future involvement of large players like Facebook," he said."They believe that Libra will create mass awareness of cryptocurrencies and act as a gateway to adoption." "Traders believe that Libra will create mass awareness of cryptocurrencies and act as a gateway to adoption."
In late March, bitcoin broke out of a spell of limited price moves. It has since risen more than 160 percent, an ascent peppered by double-digit price swings that have reminded some of its retail investor-fueled 2017 bubble.
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