Cryptocurrencies on Friday
The price of major cryptocurrencies such as Bitcoin and Ethereum increased on Friday. Bitcoin’s price reduced to less than $10,000 during the past several days. It worth mentioning that Cryptocurrencies play an important role as some analysts argue that Bitcoin can act as “digital gold.”
It means that the number of people willing to invest in the cryptocurrencies is on the rise. Every time the price of Bitcoin falls below $10,000 this creates uncertainty regarding the digital currency market. However, people should keep in mind that Bitcoin, Ethereum can reverse the trend as it happened on Friday.
There is no central bank which can influence the price of the cryptocurrency. This is a decentralized system, and it means that its price does not depend on the U.S. or any other government.
The price of digital currencies
As mentioned above, Bitcoin’s price increased on August 23. The price of Bitcoin surpassed $10,000. For the last couple of days, Bitcoin struggled to overcome this level. However, at the moment the price of Bitcoin is $10,207. There is a chance that Bitcoin will continue its journey to the top.
The price of another cryptocurrency which is the Ethereum also increased on Friday. This is good news for the second-biggest cryptocurrency in terms of market capitalization. The price of Ethereum increased and right now the price is $193.
Ethereum’s price recovered from $180 to the current $193. If Ethereum is going to break the resistance at $195 level it might even reach more than $200.
Litecoin’s price is also on the rise. Litecoin is amongst the biggest cryptocurrencies in terms of market capitalization. The price of Litecoin is $74.
Swiss bank and cryptocurrencies
The digital currencies start to attract people from all walks of life. It means that potential investors would like to learn more about crypto investing. One of the latest examples comes from Switzerland.
The CEO of the Swiss bank Maerki Baumann Stephen Zwahlen gave an interview to Swiss Info. He talked about the emergence of cryptocurrencies. This interview shows that banks are willing to enter the cryptocurrency market.
The price of major digital currencies is on the rise. This serves as an additional argument to invest in digital currencies.
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