Bitcoin Hovers Above $10,000 Level as it Finds Support

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Bitcoin Hovers Above $10,000 Level as it Finds Support

The digital currency, Bitcoin appeared to have found support as it hovered above the key $10,000 level on Monday in Asia.

Bitcoin gained 2% to $10,340.3 by 12:15 AM ET (04:15 GMT).

Bloomberg said that the gains may have been beacuse of technical reasons as Bitcoin had tested the $10,000 price level four times over the last week, each time bouncing back. The next resistance is $12,316, a level it reached beginning of this month, Bloomberg said.

Litecoin was up 1.4% to $74.116. The digital coin dropped 14.19% on Sunday, making its largest one-day percentage loss since February 24.

While Etherium and the XRP both inched up 0.5%.

While not a directional driver, the Thai Securities and Exchange Commission today had sent warnings regarding several scam entities posing as legitimate trading firms for digital currency. The SEC stated that the amount of losses caused by scams is still unknown to date.

Cointelegraph reported that so far, the Thai Ministry of Finance has only issued four digital asset business licenses in January 2019, approving crypto-related services by Bitcoin Exchange Co., Ltd, Bitkub Online Co.,Ltd and Satang Corporation as well as the cryptocurrency brokerage firm Coins TH Co., Ltd.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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