Bitcoin Price Increasing Because Of Libra?

[I-Bit]

For now, Bitcoin price increase is not influenced by Libra. The increase is likely caused by good news related to Bitcoin halving and some countries that legalize Bitcoin. I don't know about Libra, it seems to be not launched because of the intervention of US government.

[Fenix]

I've been reading some comments or posts recently in various forums and some people claim that the current increase in price is due to the release of Libra's WP etc. They even say that it legitimizes cryptocurrency.

I personally doubt all that. With or without Libra, the price of Bitcoin is meant to rise. It's been on an upward trend even before this facebook coin.

What is your take on this?

Libra's role in cryptocurrency has been overestimated from the start.  Of course, there were relatively few stablecoins at the time, and her possible interactions with a social networking giant like Facebook made her something special.  However, even if Libra did appear, it is unlikely that it had such a big impact on cryptocurrency, including bitcoin.  In general, stablecoins compete with decentralized cryptocurrencies as a means of payment.  However, on the other hand, they increase the general interest of people in it and make it easier to work with cryptocurrency, making it more convenient.

[syedrasool2011]

No sir bitcoin price pump by the whales they pump price and also news depend.

[AllSii]

Certainly. People think that they can make pretty much as Bitcoin will be gaining with time, and they make long-term investments. I do not see any connection between Bitcoin and Libra, for sure.

How can a coin that is not yet available affect the price of bitcoin? You will not be able to make money on stablecoins, because they have a stable price approximately equal to the price of the dollar.

[jakasantosa]

I agree with the opinion that Libra does not affect the price of bitcoin to go up.
because bitcoin itself has factors that affect its price, including:

1. Demand and Offer on the market.
2. Total Amount of Bitcoin and Holders.
3. News about bitcoin
4. The Volume and Distribution of Bitcoin
5.Trader Speculations
6. Fraud Mode Involving Bitcoin
7. etc
And there are many factors that influence the price of bitcoin.

[msz900]

How can a coin that is not yet available affect the price of bitcoin? You will not be able to make money on stablecoins, because they have a stable price approximately equal to the price of the dollar.

Right, as the Libra is still many issues with the government and now one knows that it will stand for long time or its just another fake/scam coin to make the people fool.

[Quantum X]

How can a coin that is not yet available affect the price of bitcoin? You will not be able to make money on stablecoins, because they have a stable price approximately equal to the price of the dollar.

Right, as the Libra is still many issues with the government and now one knows that it will stand for long time or its just another fake/scam coin to make the people fool.

We don't know yet more about this coin but looks like a potential one. Even that, for sure bitcoin price is not subject to any altcoins influence and so I believe libra has othing to do with bitcoin.

[Lanirex]

I don't care what people say the price of Bitcoin is because of LIBRA, even I don't believe their words. The price of Bitcoin went up not because of LIBRA, but because Bitcoin was such a potential coin that many people wanted to own it. The market demand for Bitcoin goes up, the supply decreases and the price goes up high.

[Ghozrd]

Libra coin has changed its name to Diem, its value is stable following the USD price but that situation does not affect the Bitcoin price because as we know, the Bitcoin price is paired with various coins on the exchange, many new investors who have seen the development of crypto prefer Bitcoin for investment and we have seen the crypto market cap increase by 8% as i have seen on coinmarketcup

[Jaya60]

The only reason everyone is talking about the sudden increase in the price of Bitcoin is the sudden increase in the price of Bitcoin. Many people think that the price of Bitcoin is only increasing and the price of all other coins is not increasing so much.  But now the price of many coins is increasing along with bitcoin.

[ttcsalam]

It is natural that the price of Bitcoin will increase and decrease.As such, I think. There were several reasons for the price increase. The number of liquid transactions has increased a lot in a covid 19 period. And I don't think there has been any big hacking news this year. This is also a positive aspect.However, Libra may be a factor, there is nothing impossible.

[Sterling]

For now, Bitcoin price increase is not influenced by Libra. The increase is likely caused by good news related to Bitcoin halving and some countries that legalize Bitcoin. I don't know about Libra, it seems to be not launched because of the intervention of US government.

The truth is, the market needs bitcoin, so the price of bitcoin increases very quickly and there is no coin that can raise the girl for bitcoin. Bitcoin's main code helps to increase the price of other currencies

[Power]

I've been reading some comments or posts recently in various forums and some people claim that the current increase in price is due to the release of Libra's WP etc. They even say that it legitimizes cryptocurrency.

I personally doubt all that. With or without Libra, the price of Bitcoin is meant to rise. It's been on an upward trend even before this facebook coin.

What is your take on this?

Bitcoin price is not increasing because of Libra, until now, there has been no real evidence
that this affects the price of Bitcoin. Libra is in principle different from bitcoin and other altcoins, and there is no respect for it.

[Emircan]

Not because bitcoin is the king of cryptocurrency. Only bitcoin can help other altcoins increase in price, but other altcoins cannot pull bitcoin up and currently bitcoin has broken records and other altcoins have yet to do it.

[Sierra]

Bitcoin is the king of cryptocurrencies, so it is impossible for other altcoins to increase bitcoin's price, only bitcoin is helping other coins to rise.