Bitcoin Eases After Rising Above $11,000 Level

Investing.com – Bitcoin eased slightly on Monday after rising to its highest levels in 18 months amid the view that public acceptance of digital currencies is on the rise after Facebook (NASDAQ:) announced that it is planning its own digital currency, Libra.

rose as high as $11,344.1, the most since March 2018, before pulling back to $10,706 by 12:13 PM ET (04:13 GMT).

Other major cryptocurrencies traded slightly lower, with down 3.43% to $303.88, sliding 5.31% to $0.45808, and slipping 4.42% to $135.63.

The gains in Bitcoin are reminiscent of the 2017 rally, which saw the world’s largest digital currency rise to record highs of around $20,000 on some exchanges, before a steep selloff which saw it drop to just over $3,000.

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