On Tuesday, Bitcoin almost reached its highest level for two weeks, after reaching 9% ($12,833) overnight, analysts said. Probably, the hope that crypto-currencies are more and more accepted after Facebook has revealed the plans for a digital coin.
The biggest crypto-currency has gained more than 45% since Facebook plans last month for presented its Libra coin, which sparked renewed optimism about the widespread acceptance of crypto-currency by companies and individual users.
“What we have seen in bitcoin over the last couple of weeks is still very linked to Libra,” said Craig Erlam, senior market analyst at OANDA. “People allude to the idea that bitcoin is a more mature industry than previously.”
Bitcoin remains very volatile. This year, it gained nearly 240% after falling three quarters last year.
Analysts pointed to other data suggesting an increase in the use of Bitcoin. The peer-to-peer exchange of bitcoin, a proxy for non-speculative use, is at its highest level in nearly eight months, said eToro’s Mati Greenspan.
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