What Zuckerberg & Libra Have to do With The Crypto Market? How Low Will BTC Goes

[blckhawk]

A lot traders are blaming Mark Zuckerberg and his Libra stablecoin for Bitcoin's and the crypto market sea of reds today. What does Zuckerberg and Libra have to do with the crypto market? It's just another project right? How low will Bitcoin price falls further today?

Its either you don't really know and understand anything about the entire crypto market or you are just new in the crypto space. How can you just make a post saying Libra has something to do with the crushing of the crypto market. Since 2018 till now, the crushing of the crypto market is not something that is new to people in the crypto space. Libra and Zuckerberg can't be the reason behind the crushing of the market. Price fluctuations are just the nature of the market. You just need to take advantage of it and make some profits out of this crushing rather than making silly assumptions.

Please read the OP for the second time around. He is not making assumptions, in fact, he is asking "why are the other people are making that assumption?". We all know that it has nothing to do with the price dips lately. The price could be manipulated by the whales, its purely by demand and supply, which is dictated by the consumers themselves. I also don't think having Libra is making people dump bitcoin since it's just another altcoin that's going into market. Cryptocurrency is not only bitcoin, it's every blockchain-powered coin out there.

[Harrydose]

Actually, Mark Zuckerberg Trying Hard for Libra, US Congress isn't Convinced Yet

[Upgate]

A lot traders are blaming Mark Zuckerberg and his Libra stablecoin for Bitcoin's and the crypto market sea of reds today. What does Zuckerberg and Libra have to do with the crypto market? It's just another project right? How low will Bitcoin price falls further today?

Isn't this just despicable and a vindictive move against Libra coin which hasn't yet come out, the possibility of Libra or Mark Zuckerberg being the cause of cryptocurrency red signals is unbelievable and false

[Pearls Before Swine]

I don't really understand the mindset behind this - how can Libra be to blame for bitcoins recent dumps in the market? They are barely alive as is.

I don't think the recent crash had anything to do with Libra.  I think if anything it had something to do with Bakkt, but I couldn't even say that with any certainty.

It is also possible that there was no real reason for the dip/crash, that it was just due to normal market conditions where more traders were selling than buying.  We all like to look for concrete reasons for why bitcoin does what it does, but sometimes there just aren't any.  But in any case, why would anything regarding Libra affect bitcoin like this?  The only reason I can think of would be big wall street traders acting on news, like they do in the stock market.  Maybe they think the regulatory obstacles Libra is facing might translate into something that affects bitcoin's viability.

Who knows.

[GMoore87]

A lot of people are relating it because Libra is also expected to be a part of the crypto and blockchain scenario (Which is highly unlikely in reality). But none of them know-how different and unlinked they are. 

[Kambal2000]

We should not be threaten about Libra, they are nothing compare to Bitcoin, and for BTC, as per the expert it will not go below $7k, but still let's watch it out, it will always depends on the panic of the people, and this is not purely because of Libra, we all know that if you are crypto enthusiast, you know that Libra is worthless.

[ChrisPop]

I don't think that Libra and Facebook has or will have any negative impact on Bitcoin and cryptocurrencies. If any it is going to be a positive impact as it will bring a lot more awareness as I assume that pretty much all active Facebook users will at least check out Libra and what is it. I think that BTC still has some legs to go before we see the reversal. If we break the $7000 support I'll look for the price to go in the $5000 range.

[darkangel11]

Actually, Mark Zuckerberg Trying Hard for Libra, US Congress isn't Convinced Yet

And this is the problem. People see the rejection of libra as the rejection of cryptocurrencies. Like it or not Libra poked the bear. The bear was already full of negativity towards crypto but crypto companies rarely asked the bear for his opinion. They rather listened to whatever fart and burp he produced from time to time and acted like it's the sweetest smell there is just to be able to walk by. Zuckerberg wanted a regulated crypto and suddenly every old fart congressman had to take a stance and voice his opinion.

[boltz]

It has a lot to do with crypto market because we are talking about cryptocurrency system and Libra is a crypto so the big publicity went to Bitcoin yesterday as it was clearly that the USA is afraid of Bitcoin to reach the point when it no longer can be controlled by Governments and this is the issue with Libra as well. If Bitcoin goes even lower will be because whales will give another chance for everyone to step in the game and buy Bitcoin and nothing more.

[barbara44]

A lot traders are blaming Mark Zuckerberg and his Libra stablecoin for Bitcoin's and the crypto market sea of reds today. What does Zuckerberg and Libra have to do with the crypto market? It's just another project right? How low will Bitcoin price falls further today?

I think that is the highest height of stupidity to have blamed the drop of bitcoin in a project that is yet to be established, wherein, this project would even have no effect on bitcoin if it was released. Libra coin is intended to be a stable coin, while bitcoin is a decentralized coin that is high volatile, and it is through this volatility that a lot of organizations has been able to make money for their company, while it is through this volatility also that many traders are able to trade bitcoin easily and getting lots of profit through the trade.

Stable coin, can never function as much as all these type of coins like bitcoin would, they only function as reliable payment, but no other means of making it through the coin, while bitcoin performs different functions.

[buwaytress]

You know, if guys like you just stopped posting new threads about Libra and Fkerberg, maybe fewer people will actually care? I mean, I actually like it the market faces more selling pressure after the bad news on Libra (and sorry guys, but it's never going to be good news!). Works perfectly for me and delays my Bitcoin gratification.

But if you have a problem with bad news, then simply stop adding fuel to the fire =)

[kryptqnick]

A lot traders are blaming Mark Zuckerberg and his Libra stablecoin for Bitcoin's and the crypto market sea of reds today. What does Zuckerberg and Libra have to do with the crypto market? It's just another project right? How low will Bitcoin price falls further today?

I don't like seeing Bitcoin going down, and I don't look forward to the launch of Libra. I also think that Libra can possess a threat to Bitcoin in the future. However, I don't find it rational to blame Libra for Bitcoin's current issues! I mean, Libra is just a project right now, it's far from being finished, and it's even further from actually being used and thus being associated with "cryptocurrency" by people. It cannot pose a threat, not yet. Moreover, I don't think that Libra's failure (and this is something that's happening now with a harsh time Zuckerberg had in the US Congress) can affect Bitcoin's price troubles since Bitcoin is nothing like Libra anyway.

[Artemis3]

A lot traders are blaming Mark Zuckerberg and his Libra stablecoin for Bitcoin's and the crypto market sea of reds today. What does Zuckerberg and Libra have to do with the crypto market? It's just another project right? How low will Bitcoin price falls further today?

I don't like seeing Bitcoin going down, and I don't look forward to the launch of Libra. I also think that Libra can possess a threat to Bitcoin in the future. However, I don't find it rational to blame Libra for Bitcoin's current issues! I mean, Libra is just a project right now, it's far from being finished, and it's even further from actually being used and thus being associated with "cryptocurrency" by people. It cannot pose a threat, not yet. Moreover, I don't think that Libra's failure (and this is something that's happening now with a harsh time Zuckerberg had in the US Congress) can affect Bitcoin's price troubles since Bitcoin is nothing like Libra anyway.

It definitely isn't related, but some people are playing the FUD game. Unlike you, i doubt Libra would ever challenge Bitcoin, or even the top altcoins, it is too flawed to succeed, even without government meddling.

The only good thing from this is that it is somehow bringing the cryptocoin discussion to the table, and minds of many people. And some are even asking, why is Bitcoin good and Libra bad? Ie. one is allowed while the other doesn't? Then its your perfect chance to explain why.

Bitcoin is free (as in freedom), while Libra isn't. This dip, this fluctuation, is reasserting you and everyone that yes, Bitcoin is and remains free, and that is good. Market forces will stabilize, if you are in doubt, zoom out and see the whole picture! The best price is what the market says, just give it time its fluctuations are natural. And take the chance, when its cheap to invest, then hold and relax.

If you are American, you have zero reason to use Libra over the USD anyway, but Bitcoin is a whole different matter, in the long run it preserves your purchasing power, while Libra doesn't, because its pegged to tokens pegged to fiat made unlimited by governments, while Bitcoin is limited by code to 21M.

Deflation is good but the Chicago boys won't tell you, they like everyone in debt and bubbles that pop rather than a stable steady rock growing economy backed in real savings rather than vapor money. Just read the Austrians...

[judeafante]

A lot traders are blaming Mark Zuckerberg and his Libra stablecoin for Bitcoin's and the crypto market sea of reds today. What does Zuckerberg and Libra have to do with the crypto market? It's just another project right? How low will Bitcoin price falls further today?

What's the connection on something that is not yet existing in the market, are traders that idiot to sell their stakes to something that is not yet live trading in the market, like all the other comments here it's a whale manipulations, we can think of other factors why Bitcoin is dropping but not to the point that bitcoin is dropping because of a non existing coin or project.

[cryptozink]

I was thinking the same think. Politricks always win.

OP, how can anyone blame something that will NEVER EVER launch? LIBRA WILL NEVER LAUNCH. The regulators will never let a powerful group of tech-companies play the role of the Federal Reserve for internet money.

[cryptozink]

The United States government is afraid of anything that's not the dollar. That's why China is kicking our butt on everything technology right now.

A lot traders are blaming Mark Zuckerberg and his Libra stablecoin for Bitcoin's and the crypto market sea of reds today. What does Zuckerberg and Libra have to do with the crypto market? It's just another project right? How low will Bitcoin price falls further today?

Zuckerberg and Libra waiting permission from united government to adoption and publish Libra coin for public investor, I think united government dislike with Libra coin by never give permission for Libra become legal currency payment, US government's look very afraid one day Libra coin become most profitable and have many user around the world to use Libra as legal payment than have use other digital payment.

[SvonioneFromMangoCoinz]

This is my own opinion. I think he's not at fault here. This is just a humorous blame when sharks sell off their bitcoins. The fact that libra coin has been initially diagnosed is difficult to form. due to its size, it could become the largest manipulation organization and not be sought by law. It is accompanied by numerous money laundering and information security issues.
It was too difficult for Mark to start Libra.

[X-ray]

This is my own opinion. I think he's not at fault here. This is just a humorous blame when sharks sell off their bitcoins. The fact that libra coin has been initially diagnosed is difficult to form. due to its size, it could become the largest manipulation organization and not be sought by law. It is accompanied by numerous money laundering and information security issues.
It was too difficult for Mark to start Libra.

If you are talking about price manipulation maybe it wont happen the point of Libra is that it's a stablecoin therefore the manipulation of price is not likely to be happening but we won't know if it's other thing like capital manipulation or anything else. in the past there are rumour about tetherprinting massive amount of usdt and people think that is a volume or supply manipulation but Libra could just do that, considering that they  also have done grave mistake in the past regarding privacy of their users.

[cryptozink]

I was thinking the same thing. Crypto right now, including Bitcoin depends on speculations.

Well, when Libra was first announced a lot of buzz was created in the media and a lot of people looked seriously at investing in Crypto currencies, because a large corporation like Facebook was interested in creating their own. It was mostly driven by FUD that was spread on Social media platforms and a lot of misinformation.

So, it was to be expected that if the government of the USA are to request Zuckerberg to speak to their concerns about his companies decision to create their own digital payment option, then speculators that are misinformed again, would withdraw their investment in Bitcoin as a preventative measure. 

[Murat]

When there is a matter of confusion regarding this platform then the USA, France, and Germany government are trying to protect Libra and Zukarbarg's step towards blockchain, so it might bring another confusion toward people because they could think that Blockchain still has some negative aspect and it's a matter of credibility so blame could go to the Libra and its movement, but all the negative things will swipe out when the price of Bitcoin will get raised and people will also get impressed by that time, I think this year is very crucial for this platform and it's already started to gain its speed again. let's see what will happen next.