U.S. Markets close in 1 hr 54 mins

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

Investing.com - Bitcoin appeared to have found some 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 the gains might be due to technical reasons, as Bitcoin tested the $10,000 price level four times over the last week and bounced back each time. 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 coin plunged 14.19% on Sunday, its largest one-day percentage loss since February 24.


Meanwhile, Ethereum and the XRP both inched up 0.5%.


While not a directional driver, the Thai Securities and Exchange Commission today warned the public about multiple scam entities are posing as legal digital currency trading firms. The SEC stated that the amount of losses caused by the scam is not known 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 exchanges Bitcoin Exchange Co., Ltd., Bitkub Online Co., Ltd. and Satang Corporation, as well as cryptocurrency brokerage firm Coins TH Co., Ltd.


Related Articles

After Switzerland Visit, Crypto Concerns Remain for US Regulators

Cardano Dips Below 0.048973 Level, Down 3%

Brave Expands Crypto Tipping to Reddit and Vimeo After Twitter