Inside money, markets, and Big Tech

This article was published on June 24, 2019


Bitcoin price rises past $11,000 following Facebook’s Libra announcement

Bitcoin's going up, again!

Bitcoin price rises past $11,000 following Facebook’s Libra announcement
Yessi Bello Perez
Story by

Yessi Bello Perez

Former Senior Writer, Growth Quarters

Bitcoin’s price continues to rally surpassing the $11,000 mark over the weekend for the first time in 15 months.

At the time of writing, Bitcoin‘s price had decreased by approximately 1.15 percent, with each coin being worth $10,873.04according to Coinmarketcap.

Bitcoin price chart via Coinmarketcap

Bitcoin’s rise in value comes after Facebook announced the launch of Libraits contentious ‘cryptocurrency.’

In fact, Google Trends data shows that interest in the cryptocurrency increased after the tech giant’s announcement.

Google Trends chart showing interest in Bitcoin

The world’s most famous cryptocurrency surpassed the $9,000 threshold for the first time in 2019 last week, amid rumours that the tech giant was getting ready to go public with its project.

It also soared past the $8,000 for the first time approximately five weeks ago.

Bitcoin‘s price also made headlines when it pushed above $5,600, at the time setting a 2019-high for the third time in less than a month.

It’s often difficult to explain Bitcoin‘s price movements, but this doesn’t stop speculation mounting.

In this instance, some experts are attributing the price jump to Facebook‘s announcement, which has already unsettled politicians and bankers across the globe.

Disclaimer: This is not investment advice. Readers are advised to do their own research before investing in any kind of digital asset or cryptocurrency.

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