Bitcoin is proving to continue its role as the asset of choice through the markets current run, gaining as much as 2.4% to USD 8,463 on Friday with Ether, Litecoin and EOS in the red.
It is thought that Bitcoin has benefited from the latest announcement that from September 2019, Malta-based Binance will cease providing services to US traders and plans to launch a separate exchange for its US users.
Bloomberg Intelligence analyst Mike McGlone commented that those selling and parking funds will always choose BTC as “It is the benchmark go-to store-of-value.” Others such as John Spallanzani, portfolio manager at Miller Value Partners, see Facebook’s crypto project pushing people towards Bitcoin. He argued:
At the time of writing Bitcoin is trading at USD 8,690.
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