Bitcoin Rises Above $13,000 as Digital Coins Boosted by FB Libra

June 26, 2019 Share Print 0

Bitcoin jumped to an 18-month high on Wednesday, as investors looked for safety in alternative investments amid geopolitical tension, and cheered prospects that Facebook Inc’s Libra token could push cryptocurrencies into the mainstream.

The world’s biggest cryptocurrency has surged in value since April and on Wednesday hit a peak of $13,666.02 on the Bitstamp exchange, the highest level since January 2018. So far this year, bitcoin has risen more than 260%, although it remains below its all-time high of nearly $20,000 hit in December 2017.

Bitcoin last traded up 14.7% at $13,475.

Investors have flocked back in to digital currencies after a bruising 2018. Bitcoin has risen for eight consecutive days. And now Facebook has said it would offer its own cryptocurrency, the Libra coin, by end of June 2020.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.