Bitcoin extends gains, approaches $12,000 mark

Most of the cryptocurrencies rose today led by Bitcoin as the trade war between the US and China intensified, which has in return increased volatility in forex and stocks markets.

As a result investors shrug off the stocks and forex markets, shifting to safe haven assets such as the precious metals and the crypto market.

Bitcoin, rose today to $11,000 to get closer to touching the $12,000 barrier for the first time since July.

Bitcoin fell under pressure from regulatory concerns on the upcoming cryptocurrency Libra, which Facebook plans to launch next year, as governments and politicians around the world fear the abuse of this nascent currency in illegal activities and its impact on th the banking sector and their payment systems.

As of 13:05 GMT, Bitcoin rose by 10.4% to $11784, with the highest at $11,854.2 and the lowest at $10,674.6.