Bitcoin far exceeds $10,000 and it may be because of Libra
By Mark Lemon – Cryptocurrency Professional
Just before December of 2017, Bitcoin hit the $10,000 mark for the very first time in history. This rise spoke for the popularity of buying and selling Bitcoin. This milestone made many believe that Bitcoin had made it to the mainstream but quickly retracted as in the months that followed, tragedy hit, and the price of Bitcoin went down.
2018 was not a good year to buy or sell Bitcoin but the good news is that it regained some of its value in 2019. Once again, the $10,000 mark has been hit and things are looking good. Even though the reason is unclear yet, we can guess that the Facebook involvement has something to do with it. With Facebooks plans to launch a cryptocurrency, all businesses and governments seem to be taking them more seriously.
The value of Bitcoin had not been as high since March of 2018. During that time, many were selling Bitcoin which was suffering from a downfall. It reached as low as $3,200 by the year end.
The good news is that since that rock bottom, sentiment has changed from a ‘bubble’ causing more to buy and sell Bitcoin increasing its growth.
What is the verdict?
The cause of the recent rise of Bitcoin to $11,000 has been speculated to come from the Libra announcement. An incident like this has been observed before, where these wonderful rises in value seemed to have no logical explanation. However, many users have made their beliefs known that this rise has something to do with the creation of Libra.
Ever since Libra was opened to the market, the connection between Bitcoin and Libra has subtly come to light. Bitcoin tends to mention the latter in conversations and could be using the publicity generated to promote its own blockchain and encourage more to buy and sell crypto.
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