Bitcoin surges past $13,000

Bitcoin surges past $13,000 (BTC/USD)

  The price of bitcoin continues to climb higher, with the cryptocurrency spiking 11% against the dollar on 27.06.2019 morning. At the time of writing, Bitcoin has reached a high of $13,230 and momentum looks robust at the highest in over a year.   

     At 6.30 am Sri Lanka time, Bitcoin is up 11% against the dollar to $13,230 (BTC-USD) and up 11% against the LKR to Rs. 2,310K Earlier in the session bitcoin came close to breaking through $13,000.

    The price rise extends bitcoin’s recent rally, which has seen it climb over 200% against the US dollar so far this year and over 50% this month.

      Connor Campbell, a financial analyst at SpreadEx, said bitcoin had been “immensely aided by the launch of Facebook’s Libra, which appears to have renewed interest in the product and acted as further legitimisation of the market.”

    The next levels to watch are $14,000, $15,530, and $17,160 before the all-time high just below $20,000.

     All these lines of resistance either served as support or resistance lines back in the autumn of 2017 when Bitcoin prices were surging and in early 2018 when cryptocurrencies suffered a downfall.

See Also
What is the Bitcoin ?
Introduction to bitcoin mining
Facebook - Project libra