Bitcoin bounced back to cross the USD 8000 mark, spreading positivity all over the market. Experts have started quoting this as the best time to invest in bitcoins since 2015. Despite Bitcoin’s recent progress, it has failed to break through its latest resistance levels which lie in the lower USD 8000 level. Despite that, experts are giving it a thumbs up and expecting it to maintain the positive momentum in the coming days.
Bitcoin crossed the USD 8300 mark last weekend but fell to a low of USD 7200. However, before entering into the weekend, it gained back impressively to stay at around USD 8050. Bitcoin has to up its resistance level to USD 8200 to USD 8400 bracket soon to stay on the right track for attaining the magical USD 10,000 region. Most of the cryptocurrency experts believe once Bitcoin breaks through the USD 8,400 resistance, the positive momentum will be enough to see it reach or even go past the USD 10,000 mark. Bitcoin went through similar breakthroughs at 4100, 5600, and 6800 mark. With a busy weekend ahead, Bitcoin will have all the eyes fixed on it to witness possibly one of the biggest breakthroughs of all time.
Talking of virtual currency, Facebook too is in the fray for launching its own cryptocurrency. While Forbes counted it a counterpart to Bitcoin, it actually has got nothing to do with it. Facebook’s virtual currency, GlobalCoin, will facilitate a new digital payments method for its users across 12 countries. The details of GlobalCoin still remain unofficial, which makes it difficult to rule out any possibility. If it does compete with Bitcoin, it will be interesting to see how the battle ends up as facing up Facebook’s billions of users won’t be easy for a now stable looking Bitcoin industry.