Bitcoin rises above $9,000 for first time in 13 months as Facebook's crypto nears

[midian182]

What just happened? We know that Bitcoin had been in steady decline following its peak of almost $20,000 in December 2017, but the world’s largest crypto has seen a resurgence in recent times. Now, it’s passed the $9,000 mark for the first time in 13 months, and it’s partly thanks to Facebook.

One year after the crypto craze hit its highest level, which saw the price of graphics cards rise and their availability decline as people looked to build mining rigs, Bitcoin fell to a low of $3,200 in December 2018. The slump affected individuals and companies alike, including Nvidia, whose share price plummeted in the wake of the crash.

But after several months of remaining below $4,000, Bitcoin jumped above $5,000 in April, though nobody could explain why. Since then it has slowly climbed in value, rising 22 percent over the last 30 days to exceed $9,000—a level it hasn’t seen since May 2018.

Bitcoin's price over the last 12 months

It appears Bitcoin’s recent revival is due to renewed optimism in cryptocurrencies, helped in no small part by Facebook’s upcoming crypto launch. The social network’s stablecoin, which is being supported by the likes of Visa, Mastercard, PayPal, and Uber, will allow users to make online purchases. It will operate within Facebook’s messaging infrastructure, which covers WhatsApp, Instagram, and Facebook Messenger.

Bitcoin isn’t the only crypto to have seen gains over the last seven days. Ethereum, Bitcoin Cash, and Litecoin all increased over the last week, too. Let’s hope this doesn’t result in mining becoming popular again and video card prices spiking.

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https://www.techspot.com/news/80539-bitcoin-rises-above-9000-mark-first-time-13.html

 

[QuantumPhysics]

Bitcoin had its chance. Regardless where it goes now, the exact same issues from before are still a problem now - only this time around, the government is watching you and demands you report and pay capital gains on whatever cryptocurrency you buy/sell or net.

The whole point of cryptocurrency was supposed to be that we could anonymously move our money around without the IMF watching and stopping us. Government involvement ruins the whole thing.

People who bought into Bitcoin 2 years ago expected huge returns on their small investment and only those who day traded and got out before the collapse won. Everyone else who bought High and sold low - LOST.

 

[Cycloid Torus]

Why would it be a good idea to 'invest' in bitcoin? My guess is that as it approaches earlier highs that thee will be a large selloff.

 

[Ludak021]

Bitcoin had its chance. Regardless where it goes now, the exact same issues from before are still a problem now - only this time around, the government is watching you and demands you report and pay capital gains on whatever cryptocurrency you buy/sell or net.

The whole point of cryptocurrency was supposed to be that we could anonymously move our money around without the IMF watching and stopping us. Government involvement ruins the whole thing.

People who bought into Bitcoin 2 years ago expected huge returns on their small investment and only those who day traded and got out before the collapse won. Everyone else who bought High and sold low - LOST.

That's US you are talking about. Good exchanges don't allow US citizens to register at all. Most of BTC trading is happening outside the US. Also, there is black market for everything, you (in the US) could sell BTC or whatever crypto take cash and stay anonymous. Is that Illegal? Well yea, so is all this stuff big tech companies do and are suied for and are paying fines. That's how you make (more) money.

 

[Squid Surprise]

Cryptocurrency is here to stay.... weather or not the future is Bitcoin, Etherium, Facebook, or some other “brand” remains to be seen...

 

[OutlawCecil]

I spent $300 when it was at 10k. Just waiting for it to pass that to sell... Here it comes!

 

[QuantumPhysics]

Remember back when everyone went wild over BITCOIN $10,000???

Remember when everyone was certain Bitcoin would be $100,000 by now?

Pepperidge Farm remembers...

 

[Karlos95]

Remember back when everyone went wild over BITCOIN $10,000???

Remember when everyone was certain Bitcoin would be $100,000 by now?

Pepperidge Farm remembers...

In less than 2 years time it will be. All you people saying it's dead because it lost value. It is exactly like the stock market, what goes up must come down and what goes down sometimes goes up.

Look at BTC chart overall and it is still in an uptrend. No killing the almighty BTC. The governments have been trying for 10 years now.

 

[toooooot]

And to think that I could buy 3k worth of bitcoin at 5k and resell at 9k ....But no! I dont gamble, and with my luck I would lose all

 

[JamesBlond]

You only need to do research to know that you have not...we can't fix stupid, but you can, just put some of the brain power you have into doing a little homework... you might be delighted to see there is news you dont know will benefit you

 

[Nobina]

You only need to do research to know that you have not...we can't fix stupid, but you can, just put some of the brain power you have into doing a little homework... you might be delighted to see there is news you dont know will benefit you

Couldn't have said it better myself

 

[Karlos95]

Why is this article implying facebook has something to do with BTC rising in price... If you look at the graphs and study it like a normal investor would you would have seen this coming with or without facebooks help. Actually if you invest in facebook coin and not btc you are an *****. FB is just a centralized monopoly, the exact opposite to what BTC is.

 

[JamesBlond]

Why is this article implying facebook has something to do with BTC rising in price... If you look at the graphs and study it like a normal investor would you would have seen this coming with or without facebooks help. Actually if you invest in facebook coin and not btc you are an *****. FB is just a centralized monopoly, the exact opposite to what BTC is.

You hit the nail on the head, FB fears are Gov fears... will they loose control or will they keep trying their little tricks