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Bitcoin Hit Levels Of $10000; Central Banks Stimulus Measure Supporting

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As hopes of bitcoin gaining traction amid economic stimulus, digital cryptocurrency surged past levels of $10000 for the first time since February.

On June 2, 2020, the digital asset surged 5% to trade at $10,168 in early trade in the US.

Even at its current pricing, it is trading at nearly 50% of its highest price that was reached towards the end of 2017.

Bitcoin Hit Levels Of $10000; Central Banks Stimulus Measure Supporting
 

As of now, the momentum around its attractiveness when central banks worldwide are releasing stimulus measures as well as the security can serve as a hedge against inflation, is working in its favour and supporting it price-wise.

And if continues to trade above $10000, the new highs can be reached and on the other hand if it fails then a sell-off could be triggered.

GoodReturns.in

Read more about: bitcoin cryptocurrency
Story first published: Wednesday, June 3, 2020, 5:55 [IST]
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