Bitcoin (BTC) has seen a sudden price surge to $10,300 after the digital currency used days swinging back and forth from $12000 range to $9000.
In what could be called a surprising upsurge, Bitcoin, which has bottomed to $9,200 range saw a sudden price uptick, clinging above $10,200 in a twinkle of an eye.
The digital currency increased almost a day after Facebook’s Libra received series of backlashes from the banking committee of the US Senate as well as the House Representatives.
Although, Bitcoin was dwindling after it stayed above $13,000 sometimes in the past, it however, received its dirtiest slap during the congress hearing featuring David Marcus, the Head of Calibra, a Facebook-centric wallet designed to serve as a store of Libra currency.
Now, Bitcoin is trading around $10,312 with an added value of over 6%, which equals $644. The same holds for other digital currency like Litecoin, Ethereum, and Ripple.
Bitcoin Tussles with US Government
In spite of the slanders Bitcoin and the entire crypto industry received from the muscular US government, the cryptocurrency remains strong in the market. Earlier, Bitcoin witnessed heavy dip after a marring statement from the Donald Trump to the industry.
The plummeting action further controlled the market as the US Senate staged a debated over cryptocurrency and Facebook’s Libra, causing Bitcoin to drift to as low as below $9,200 few hours back.
During the US senate session, Congressman Patrick McHenry, in his perspective stated that Bitcoin is unstoppable and the vision of its creator, Satoshi Nakamoto, cannot be sabotaged by anyone.
Hours later, the cryptocurrency market lead by Bitcoin displayed an alike of the stated qualities it was qualified with by the congressman. Bitcoin spike abruptly from $9,200 to $10,300 within a short time.
At the moment, Bitcoin is rated the best productive asset in the year 2019. No doubt, Bitcoin and other crypto assets have come to stay.