Bitcoin prices skyrocket thanks to Facebook

[BlackFor3st]

Facebook has nothing to do with bitcoin price increase as of now knowing that Libra coin is still in question by US and it's launch is not yet fixed even if they have said that they are going to launch it this year.

Bitcoin price has skyrocket because the big investors are starting to stock their own investment and the small investors are following it. Let's just hope that the launch of facebook coin will not affect the price of bitcoin.

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[enhu]

Facebook will definitely play a bigger role in crypto because of this Libra project. If they have made circle of friends to partner up with, the bigger its network will be in terms of coin reputation. It could be the case of facebook announcement that help the spike.

I don't think that it's only because of facebook.

Even before their announcement, the market has became better although I consider them contributed to the recent growth of the market.

The rumors made investors buy BTC and that was before the announcement but now that the government is trying to stop its development, the price also drop. News are just news though,  looking forward that they will continue the project.

[BrewMaster]

i think you really need to take a look at the bitcoin history!
whenever some news causes some sort of rise it is not 1% rise. it is instead at least 15% rise. in other words if Facebook were actually caused any kind of rise in bitcoin then price should have reached at least $10100 for it to be a thing.
going from around $8900 to $9200 is not a big rise to be from Facebook.

and obviously as others have also said Facebook news has nothing to do with bitcoin. it is a new centralized money they are printing which doesn't even mention bitcoin in its 10 page long paper!

[samuraijin]

in fact they will be released in 2020, precisely what I know is that bitcoin halving schedules also occur in the same year, so that might also be a driving factor for the sharp increase in the value of bitcoin in that year, but who knows, I'm just a trader small who want big profits 

[betty11]

It's not Facebook that caused the spike. People are psychologically bullish on bitcoin and they just can't help but keep buying. Without Libra coin, bitcoin will surpass $20k again.

[kryptqnick]

It's been a while since the digital currency posted that value. The last time Bitcoin had a price above USD 9,000 occurred in May 2018, or more than a year ago.

Investigating, the presence of Facebook's digital currency has contributed to controlling the value of Bitcoin. Some investors say the social networking plan is encouraging people to buy Bitcoin. This shows optimism for the increasingly widespread application of cryptocurrency in the mainstream financial system.

The price movement is indeed very positive. Bitcoin is worth $9k, and there does not seem to be a reason for this to be the end of the upward trend. I honestly did not notice the $9k achievement, because Bitcoin has been worth almost that for some time now. At the same time, I don't think it has much to do with the Facebook coin. It's just that the positive trend kind of feeds itself. People now see that the market is clearly recovering, so they feel like now is a safe time to invest. This leads to even more investments as the price is growing and people don't want to be left out.

[peter0425]

But wait, I think Facebook coin is going to be doom before they can even take-off as US congress is calling for a halt on the development-> https://www.coindesk.com/facebook-has-yet-to-answer-us-lawmakers-questions-about-libra-crypto. So personally, I don't think that this Libra coin will have a big impact to us. The price is bitcoin is increasing because it is still under-bought and it's about time that it needs to go up because we are not in the bullish sentiments.

[Oilacris]

What the hell on this stuff? I never ever believe that Bitcoin price goes up because of Facebook hype as of this moment.

The market is already better,good and recovering before such news pop-out so that's why this is totally irrelevant.

[Ayiranorea]

There is nothing to relate the growth of bitcoin along with the Facebook. With its emergence of new coin it gives a learning to people around the world about cryptocurrency which was spoken negatively till date for various reasons. With Facebook into the race now the same negativity will be understood positively by people. This will help bitcoin to get considered as currency or some form of asset than a illegal transaction medium which is the common understanding that people have at the moment.

[Vness10]

I think it's not the Facebook coin will come the reason why bitcoin is growing again its a fact that the right price is for this moment, maybe coincidence the announcement of Facebook coin and the high price of bitcoin.

[samcrypto]

I don't think that it's only because of facebook.

Even before their announcement, the market has became better although I consider them contributed to the recent growth of the market.

No direct impact since Facebook coin is full of hype right now but maybe investors used this news to accumulate. We have to thank those companies who are using cryptocurrency now because they also help bitcoin to rise not just Facebook, because its still speculation. I guess the halving is getting near and this might the primary reason why.

[STT]

A year from now if Facebook raises general awareness or acceptance of this kind of transaction then we can debate if BTC gained from that but right now this rally isnt from Facebook.   That story of industry taking on crypto is old now, its not part of the price or newly traded strength

[BitHodler]

in fact they will be released in 2020, precisely what I know is that bitcoin halving schedules also occur in the same year, so that might also be a driving factor for the sharp increase in the value of bitcoin in that year, but who knows, I'm just a trader small who want big profits  

The block halving is an event that has proven to steer up the price before and after, and that's what people are trying to buy into. There aren't many events that are bullish and guaranteed to happen like the block halving.

This Libra coin fueling Bitcoin nonsense has just one purpose, which is to make Libra look more relevant and potentially tempt people to buy into their stock, which has seen a 5% increase in the last 5 days, so it might work for them.

First it was JPMs coin that was super bullish for Bitcoin, and now it's Libra coin. What's next? I knew news sites such as CNBC and Bloomberg were poor with their crypto reports, but they managed to sink even deeper....

[boyptc]

I don't think that it's only because of facebook.

Even before their announcement, the market has became better although I consider them contributed to the recent growth of the market.

The rumors made investors buy BTC and that was before the announcement but now that the government is trying to stop its development, the price also drop. News are just news though,  looking forward that they will continue the project.

But it has nothing to do with bitcoin.

They will continue the project and it's already announced, I don't think that there will be a time that they will announce of stopping the project. It's already known worldwide.

[figmentofmyass]

i could imagine hype around libra indirectly benefitting bitcoin's price. i saw someone mention he had friends calling him asking him about buying crypto in response to facebook's announcement. there's no way around it; facebook is huge. that kind of exposure for cryptocurrency is huge. at least some of that hype and adoption around libra will spill over into real cryptocurrencies like bitcoin.

i don't think we've seen any real effects yet though. average joe noobs haven't even had enough time to fund exchange accounts yet. they'll be providing fomo above $10k, not down here.

[adaseb]

When the facebook news came out, at least to the public, BTC was trading sideways and still is.

I am thinking the wall paper might of been leaked back in April and caused some insiders to buy and which caused the huge price instead. When they announced it a couple of days ago, it was after BTC failed to break the $9500 high.

I still think that if we break $10K along with this facebook news, then we might finally get some real FOMO going on. People will want to buy at $10K instead of waiting for $20K.

[klaaas]

Bitcoin price has skyrocket because the big investors are starting to stock their own investment and the small investors are following it.

Those investors are recognizing Bitcoin wont go away and are confident enough to jump inn. Facebook makes a blockchain for there own data sourcing pretending it is for the benefit of the user.

[quality.crypto]

Facebook also wants to introduce cryptocurrency to the mainstream. The company wants to allow WhatsApp users - a chat platform - to send and receive money through the application. This will also allow Facebook users to send and receive funds instantly. The cryptocurrency project is already at the level that has discussed selling "Facebook Coin" to consumers on the top cryptocurrency exchange.

Agree, but their main intention about the Libra coin is a stable coin which it is impossible to trade the coin in the exchange. I hear somewhere people are talking about this in this forum if it is a stable coin then what is the use of using this Libra coin because most of the people will show an interest only when the demand is kept increasing which means the value should increase in the market.

[putra goromo]

Throughout 2019 itself, the price of Bitcoin has increased by more than 130%. Although not identical, the same trend also afflicts a number of other digital currencies.

Ethereum for example. Based on data from CoinMarketCap, throughout 2019, its value has also skyrocketed more than doubled from USD 133 on January 1 to USD 269 today. Then, improvements can also be seen in Ripple, Litecoin, and Bitcoin Cash.

[fabiorem]

What rocket? We are still at 9k.