Bitcoin recovers USD 11,000 after a turbulent week for cryptocurrencies

Bitcoin (BTC) has resumed the price point of USD 11,000 in the middle of a turbulent week.

After a bull market at the end of June raised the price of BTC to almost USD 14,000, the currency had largely remained between USD 10,000 and USD 13,000 for most of last month, briefly breaking the USD 11,000 price point. on July 15 before falling below USD 10,000 on July 16. During the past three days, BTC has been in the range of USD 10,000, but so far had failed at USD 11,000 resistance.

Bitcoin price Stock
Last week he has seen some major obstacles to cryptocurrency in general, particularly within the United States. On July 11, President Donald Trump expressed his opposition to cryptocurrencies, particularly BTC and Libra, planned by Facebook, in a series of tweets, saying:

Trump’s tweets came days before Libra‘s Facebook hearings before the US Senate Banking Committee. UU on Tuesday, July 16, and the Financial Services Committee of the House of Representatives, on Wednesday, July 17. The two hearings left little doubt about the attitude of Congress towards Libra, which was overwhelmingly negative. Representative Madeleine Dean commented:

While the outlook for Libra may be grim, the importance of the audience for Bitcoin – with a market capitalization of USD 196,266,374,749 at the close of this edition, the largest cryptocurrency remains unclear.

Today’s price rebound may mean that the storm has passed through BTC.


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