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Bitcoin retreats marginally near 13-month high
Bitcoin fell marginally in today's spot trading to stay close to a 13-month high, while most forecasts suggest that the leading currency in the crypto market will continue to rise to new highs and reach the important psychological barrier of $10,000, amid the positive atmosphere that dominates the crypto market at the moment.
As of 09:00 GMT, at Bitstamp, Bitcoin is trading around $9,260, down by $20, or 0.2%, from the opening price of $9,280, with the highest at $9,362 , and the lowest at $9,362 .
On Wednesday, Bitcoin rose 2.25%, its seventh gain in the last eight days, while the world's largest cryptocurrency recorded a 13-month high of $9,477 on Monday.
The market value of cryptocurrencies on Thursday fell by more than $1 billion to $287 billion, with most of the major cryptocurrencies marginally falling in the market.
The market value of cryptocurrencies hit $291 billion earlier in Tuesday, with the highest level since late July 2018. With the rally resuming, the market value could easily exceed $300 billion.
At the moment, Bitcoin prices are currently holding above the psychological barrier of $9,000, in a positive sign of the resumption of the recent rally, as prices are still strongly expected to reach the important psychological barrier of $10,000 amid the positive atmosphere that currently dominates the crypto market.
Most crypto experts believe that Facebook's announcement of its digital currency this week will push the market forward, as Tom Lee, co-founder of Fundstrat said "This is a sign of the interest in crypto industry".
On Tuesday, Facebook issued the white paper for its cryptographic industry project and named it "Libra" on its future cryptocurrency, which is due to be officially launched in the first half of next year.
Researchers at Binance believe that the currency "Libra" can enhance the size of the cryptocurrencies because of the increased access to it from both institutional investors and retail investors.
On the other hand, according to the CME, Bitcoin open contracts from on June 17 rose to their highest level ever at 5,311 contracts equivalent to 26,555 Bitcoin unites.
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