Cryptocurrency, News

Bitcoin rate crossed $12K in the market!

Written by Naima Rabbie ·  54 sec read >

Bitcoin has leaped higher this week. It has reached to a height not seen since June of last year. On Monday the price of Bitcoin jumped about 4 percent to about $12,470 per Bitcoin on the Luxembourg-based Bitsmap exchange before slightly falling back.

According to the latest rally of Bitcoin, the increase of 30 percent is observed as compared to last month. Data showed that after the TESLA stock, Bitcoin was the most viewed asset in the US stock exchange market last month. A senior Analyst at FxPro Alex Kuptsikevich wrote an email that read: “Interest in Tesla and Bitcoin is growing due to fear-of-missing- out private investors, who are increasingly willing to join the success story.”

The email further read: “This is almost like a rookie game against the pros. Professionals do not see the ‘business’ in Bitcoin and massively short Tesla, a company that occurred massive losses for years and has a tiny share in the overall car market. It appears incredibly overbought by most multiplies and indicators.”

Recently the US Justice Department took down the efforts of Military wing of Hamas, al Qaeda, and Islamic State to raise funds via cryptocurrency through schemes that included selling bogus COVID-19 safety equipment to the US Hospitals.

The Officials told the media that they had seized about $2 million during the most significant move against the militant groups of cryptocurrency. The authorities have also taken 300 cryptocurrency accounts, four websites, and 4 Facebook pages. The sites collected payments through PayPal but did not deliver any types of equipment, the investigator said.