Bitcoin Breaks New Barrier, Nears $11,000 For The First Time In 15 Months - TECH FOE

Bitcoin Breaks New Barrier, Nears $11,000 For The First Time In 15 Months




Bitcoin has finally broken the $10,000 mark and is gearing towards breaking $11,000 for the first time in 15 months after weeks of steady price jump.

According to Coin360, Bitcoin is up 9.75% and is trading at $10,701.39 for the first time since March 8, 2018. 



As per data source CoinMarketCap, $21 million worth of Bitcoins have traded across cryptocurrency exchanges in the last 24 hours, and outshines the top 20 cryptocurrencies with a 10 percent gain.

Just this week, Bitcoin's hash rate (which is the total computing power of the Bitcoin network) hit all highs.

Social media giant Facebook on Tuesday launched a digital cryptocurrency called Libra which it said will facilitate the buying, selling and transfer of money across the globe at nearly zero cost.

Libra cryptocurrency was built on the foundation of a blockchain (the Libra Blockchain) and is tied to a mix of global assets to prevent the level of volatility commonly seen in the likes of Bitcoin and other cryptocurrencies.


Although Facebook created the crypptocurrency, decisions making will be carried out by the Libra Association, which is a collection of 28 companies that include; financial firms, not-for-profit companies, and commerce firms. 

Each of these companies contributed a minimum of $10 million to join the new Facebook subsidiary, giving Facebook over $1 billion to build the new cryptocurrency.

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