Facebook pushes bitcoin price above $9000

June 18, 2019 | Investopaper

Bitcoin which slumped below $5000 after hitting $19,000 mark a few years ago has again grabbed the attention of crypto investors. The value of the world’s popular cryptocurrency went past $9,000 this Sunday after Facebook is reported to launch its own cryptocurrency soon. It is the highest level the price of bitcoin has reached since May 2018.

The cryptocurrency price has surged by more than 140 percent this year. Facebook is reportedly set to launch its own cryptocurrency this week. The focus of investors has once again centered towards cryptomarket after the news has come out from different sources that the social networking giant will launch the cryptocurrency.

Experts say the involvement of large companies like Facebook in the crypto space is helping to lift sentiment, as it gives a degree of legitimacy to an industry long plagued by talk of illegal activity, speculative trading and regulatory scrutiny. Another company AT&T also boosted the morale of crypto investors as it said that it would start accepting crypto payments through collaboration with BitPay.





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