Continue playing 5 things to know about Facebook’s cryptocurrency You may also like Watch again 5 things to know about Facebook’s cryptocurrency You may also likeBitcoin surged to a near 16-month high above $11,000 Monday, overshadowing showings across stock, foreign exchange and commodity markets, with investors looking ahead to the week's G20 summit. "Projects like Facebook's Libra have provided a much-needed tailwind for this space." "Bitcoin volatility is likely to persist, with $12,000 and $15,000 as the next two critical resistance levels," said OANDA senior market analyst Edward Moya. Markets are waiting to see if Trump and Xi can break an impasse in their trade war when they meet on the sidelines of the event in Japan. The dollar meanwhile dropped Monday, continuing to face pressure from expectations that the Federal Reserve could lower US interest rates as soon as July as the economy shows signs of softening amid the trade war with China.

Source: The Guardian June 24, 2019 13:52 UTC