Bitcoin prices skyrocket thanks to Facebook

[Slow death]

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.

Who are those investors who are saying that? Do not tell me it's Tom Lee and these other experts who never hit anything. I believe that the price is going up because people do not want to stay behind because of the Bitcoin Halving

What rocket? We are still at 9k.

now it's $9500

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.

these altcoins increased because bitcoin increased in price. look in terms of pair Altcoin - bitcoin

currently:

ETH = 0,028 BTC

But:

on January 3 the price was 0.039 BTC

[BitHodler]

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.

Improvements?

Ethereum all time high $1400 versus $270 current price.

XRP all time high $3.7 versus $0.43 current price.

Bcash all time high $4000 versus $410 current price.

Litecoin did better, but that only because of the block halving that's going to take place in less than two months. I'm sure that without the block halving it would be hovering around the $50 mark still.

Bitcoin is where all the money is going into and with the block halving being so far away still, I doubt we'll see altcoins make a move out of their current position, and then I'm not even talking about their poor BTC ratio.

People often think that when altcoins have gone down a lot that they will have to recover sooner than later, but altcoins are known to go down well beyond what you consider fair or oversold.

[entebah]

Yes, personally I think that with the announcement of Facebook coin specifications yesterday it has stimulated new Investors to buy Bitcoin, because we know that Facebook is a successful company now, so when Facebook decided to plunge into the Crypto world, it would have a good impact on Bitcoin .

[normanderecho]

The latest monitoring shows that the price of Bitcoin is above USD 9,200 per chip. The increasing crypto currency value is in line with its market capitalization which also jumped to USD 163 billion,

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.

Not long ago, Facebook was rumored to be launching its digital currency on June 18. That date is much faster than the previous news that said that they would only launch digital currency globally by 2020.

Later, the digital currency which is called to be called stablecoin can be an option for Facebook employees as a form of payment of their salaries. In addition, the company made by Mark Zuckerberg also targets the currency to be used in developing countries where many residents still do not have bank accounts.

I don't think facebook coin is the behind of all this market hype of bitcoin because bitcoin made a bullrun even without this event. I think the main reason of this it is because of gradual came back of crypto investors in crypto world. And soon bitcoin will make a skyrocket nore than our expectations.

[klaaas]

Yes, personally I think that with the announcement of Facebook coin specifications yesterday it has stimulated new Investors to buy Bitcoin, because we know that Facebook is a successful company now, so when Facebook decided to plunge into the Crypto world, it would have a good impact on Bitcoin .

It makes people curious about what crypto is and how it works indeed. I hope they can see the differences and notice it is just a tool to make the ultra rich richer and to have control over it.

[BTCappu]

Facebook has nothing to do with the increase of bitcoin and bitcoin hasn't "skyrocket" just yet, it has been a slow increase for sure but those who do not remember the peak 2017 and how we reached there may consider this a skyrocket themselves.

We know bitcoin going 10%+ a day for a month to reach 20 thousand dollars multiple times and before that during 2014 we have reached from 150 dollars to 1400 dollars in a month as well whereas this time around it has been 2 months and bitcoin only managed to went from 3 thousand to 9 thousand which is still a great increase but not a skyrocket at all. Plus the biggest increase during 3k to 8k times happened way before libra was announced so it definitely has nothing to do with it.

You need to be really a shill of Libra to think they have any connection at all.

[Reid]

I wont agree or disagree. I will just be in the middle of it all.
Because it could be one of the reason or not even a single reason that it is the culprit. We just dont know.

Here is the good part though after all this drama about Libra ends.
They will be looking for the real investment and not stay with something that is just equal to USD. Same will happen with USDT. Just used by traders as their scapegoat for large amount of real coins into fiat or for safety because of the volatile market.

[noormcs5]

The latest monitoring shows that the price of Bitcoin is above USD 9,200 per chip. The increasing crypto currency value is in line with its market capitalization which also jumped to USD 163 billion,

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.

Not long ago, Facebook was rumored to be launching its digital currency on June 18. That date is much faster than the previous news that said that they would only launch digital currency globally by 2020.

Later, the digital currency which is called to be called stablecoin can be an option for Facebook employees as a form of payment of their salaries. In addition, the company made by Mark Zuckerberg also targets the currency to be used in developing countries where many residents still do not have bank accounts.

Libra coin (The facebook coin) is not the main reason of bitcoin prices to skyrocket. The bitcoin price is increasing because baktt platform is very near to launch and bitcoin volume can increase to a greater extent which may make bitcoin prices to rise very high. Facebook coin has its own significance and bitcoin price has nothing to do with it.

[Oceat]

What rocket? We are still at 9k.

Take a look again the price today.
Just a small push and it almost gonna break a new resistance level which is $10,000. I've never been so excited to see such price slowly pushing upward within just a little time. I don't know if it is really because of Facebook since i don't find any connection of the price to push so far like this.

[exstasie]

Here is the good part though after all this drama about Libra ends.
They will be looking for the real investment and not stay with something that is just equal to USD. Same will happen with USDT.

Same thinking here. Obviously this is just some stablecoin with no relation to Bitcoin. But the fact that it's a "cryptocurrency" being pushed by Facebook and it also might trade on exchanges like Gemini and Coinbase could create some new hype around crypto. It'll mean more money sitting on the sidelines on these exchanges. Eventually, some of that hype and money will find its way to Bitcoin.

[fabiorem]

now it's $9500

Cheap.

Feels like a elephant moving.

[Carreuh]

I never thought if soaring the price of bitcoin was influenced by Facebook because before joining Facebook in cryptocurrency the price of Bitcoin had started to rise and again there were several other outside investors who were very influential on the price of bitcoin not because of Facebook

[rdbase]

Bitcoin price could rise because of Libra, but only on long term, when, as somebody said, people will "see" Libra and will want "the real thing".
But Libra is just another stablecoin, one that's even worse than most of the ones we already have around.

You make it sound like potential crypto users are choosing between two candidates during the cola wars of the 1990s.
They rather choose the real thing.

[timerland]

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.

No. I personally do not see a correlation here whatsoever, given the fact that the coin that Facebook will launch will have absolutely nothing to do with decentralization, but it's rather more related to their own profits.

There should be a clear distinction drawn between what is corporate use of blockchain for their own profit driven incentives, and actual decentralized cryptocurrencies.

Once you draw that distinction, you'll find that the demand for each of them is completely different, and thus, the value of one is most likely completely untied from the other. BTC is bullish mainly because of the stage of the market cycle we're in right now, not to any external events.

[Questat]

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.

Facebook still give a big contribution for this rise, it's after the announcement of facebook that bitcoin breach $10,000 and this growth at that price is significant enough and it's one of the barometer for some to invest again in the market.

This month alone, bitcoin already increase $3000, and if that same increase would happen next month, price could rise to $15K and not impossible to have a new ATH early this year.

[BigBos]

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.

Facebook still give a big contribution for this rise, it's after the announcement of facebook that bitcoin breach $10,000 and this growth at that price is significant enough and it's one of the barometer for some to invest again in the market.

This month alone, bitcoin already increase $3000, and if that same increase would happen next month, price could rise to $15K and not impossible to have a new ATH early this year.

well, I think, the announcement of Facebook released libra, just like the announcement yesterday that bids crypto ads. this makes a considerable effect. I also thought that this had something to do with Libra, and I felt that this would certainly make the price of bitcoin even higher.

[DGulari]

now it's $9500

Cheap.

Feels like a elephant moving.

$11.3k now, still cheap?

Facebook has nothing to do with the increase of bitcoin and bitcoin hasn't "skyrocket" just yet, it has been a slow increase for sure but those who do not remember the peak 2017 and how we reached there may consider this a skyrocket themselves.

We know bitcoin going 10%+ a day for a month to reach 20 thousand dollars multiple times and before that during 2014 we have reached from 150 dollars to 1400 dollars in a month as well whereas this time around it has been 2 months and bitcoin only managed to went from 3 thousand to 9 thousand which is still a great increase but not a skyrocket at all. Plus the biggest increase during 3k to 8k times happened way before libra was announced so it definitely has nothing to do with it.

You need to be really a shill of Libra to think they have any connection at all.

Libra or not, thanks to that bitcoin successfully surpassed $10k.

[imstillthebest]

lol . i dont think that its not facebook who help the price moved because before when facebook have not yet announce thier coin '  bitcoin is already doing a good job  .

now it's $9500

Cheap.
Feels like a elephant moving.

$11.3k now, still cheap?

its funny how he treat 11k usd cheap but at the same time he also used the word elephant  , lol  . i guess he is only joking   .

Obviously this is just some stablecoin with no relation to Bitcoin.

stable coin is important to btc and other cryptos because stable coins help you secure the value of your coins  . there is big relation between them  .

[Arkham Knight]

Precisely! They may hate Facebook's coin but it's like a free advertisement to bitcoin and altcoins. Now, more and more companies and investment firm and also banks trying to get in. The doubters are becoming the supporters. The release of Libra coin is a  very good timing  because it's very near the halvening and it's like bitcoin hitting two birds with one stone.

[Dodoymabs]

Precisely! They may hate Facebook's coin but it's like a free advertisement to bitcoin and altcoins. Now, more and more companies and investment firm and also banks trying to get in. The doubters are becoming the supporters. The release of Libra coin is a  very good timing  because it's very near the halvening and it's like bitcoin hitting two birds with one stone.

Well, I like the idea of becoming negative to positive this is maybe because of the influence of the social mainstream. But then again, a lot of factors that may affect the price surge not only social sites but the function of the services which is definitely slowly understand by some investors.