On Monday, Bitcoin, a peer to peer digital currency, went above the $11,000 mark as Facebook, a social media giant is looking to launch its own cryptocurrency called the Libra coin.
According to coinmarketcap, a cryptocurrency analyst, on Monday, Bitcoin went over the $11,300 mark. The cryptocurrency touched the $11,000 mark for the first time in 15 months which last seen in March 2018.
Bitcoin went up170% in the last 12 months and at press time the cryptocurrency is priced at $10,700, according to Coin Market Cap.
In December 2017, Bitcoin touched the $19,000 mark and fell to as low as the $3000 at the start of 2019.
A few months back Tom lee predicted in an interview that bitcoin would reach the $25,000 mark by the end of 2020
The cryptocurrency has been gaining steady momentum since February this year as companies are looking to start their own cryptocurrency. Facebook’s announcement of its Libra Coin was one of the reasons Bitcoin moved up in value.
Bitcoin was started by Satoshi Nakamoto in 2008 and has a market cap of $190 billion at press time, according to Coin Market Cap.