Cryptocurrencies and Bitcoin are on the rise again, the Bitcoin Bulls are back! Bitcoin doubled its value within just several days from $7000 to $14.0000. Where is the limit?
In 2018 hardly anyone was interested in Bitcoin anymore. But several weeks ago the Bitcoin startet off its rallye to double its value within only several days. Why is that?
Facebook starts their own cryptocurrencie Libra
Several weeks ago rumors were circulating that Facebook was planning their own cryptocurrenry called “libra”. The media went nuts and the banks got angry. A new competitor on the horizon that will facilitate global payments drastically. Facebooks new cryptocurrency libra is supposed to get implemented in each and every facebook account which means that from that very day billions of human beings have a crypto wallet and will be able to pay their daily expoure and invoices with libra. So far so good – but what has libra got to do with bitcoin? Libra will be the door opener for any other cryptocurrency, like bitcoin and several alt coins. In contrast to bitcoin libra will be a so called stable coin that won’t be as volatile as its independent counterpart as it will be tied to a basket of fiat currencies. In contrast to the bitcoin libra will be made for yout daily payments and not for speculation. Libra will be the first and only trustworthy crypto coin which is spread amongst billions of people at once. Many of whom will get convinced by the possibilities of cryptocurrencies and switch to more independet coins like bitcoin or several alt coins. This is the reason for the enormous bitcoin bull run for the last several days.
Outage causes bitcoin to crash $1400 within minutes
If you haven’t been aware of the vast inherent volatility of the bitcoin so far this morning you could witness a shed of $1400 within minutes in the bitcoin due to a severe outage in major US-based crypto exchanges. If you like to trade bitcoin please mind that at any time its value can rise and drop within minutes. Unexperienced traders should stick to a buy and hold programme instead of trying to daytrade this difficult market.