BTC Price Reclaims $10K After US Lawmaker Says Bitcoin Can't Be Killed

Bitcoin has retaken $10,000 today following a moderately volatile month, according to data provided by Coin360.

Bitcoin starting its parabolic advance in April which culminated in retailing the 5-figure mark in June for the first time since March 2018.

BTC has moved around a decent amount, dipping below $10,000 on July 2, retaking $13,000 on July 10, and slumping below $10,000 again on July 16.

Recent remarks from United States Secretary Treasury Steven Mnuchin who echoed president Donald Trump's "Not a fan of Bitcoin" comments could have also played a role.

The ongoing scrutiny of Facebook's Libra project in Washington D.C. appears to be educating lawmakers about the key differences between Bitcoin and other so-called "Cryptocurrencies."

"Once Libra is compliant with every jurisdiction, it will just be a more complex PayPal governed by an association. Should've just used Bitcoin."

U.S. representative Patrick McHenry said that he believes Bitcoin can not be killed in an interview with CNBC's "Squawk Box" on July 17.

"I think there's no capacity to kill Bitcoin. Even the Chinese, with their firewall and their extreme intervention in their society could not kill Bitcoin."

McHenry also pointed out that newer cryptocurrencies, backed by startups or corporations, are trying to replicate the success of Bitcoin's decentralized, open-access network.

"The essence of Bitcoin is what Libra and Facebook, and corporates are trying to mimic."