The price of Bitcoin, the world’s largest cryptocurrency has now surged beyond $10,000 mark, the highest since 2018.
The price of Bitcoin across major exchanges across the world averaged at $10,800 with continuous continuos in the prices across buy orders.
“The Facebook-created blockchain is a reinforcement of the long-held idea in the Bitcoin community that a financial services system built on the blockchain will supplant legacy bank-based systems,” Steven Eliscu from DMG Blockchain told The Independent.
“In the immediate future, Libra provides a huge overall boost to the sector that we believe will catalyse institutional and government acceptance such that – at least the top – public cryptocurrencies are here to stay and will remain an ever important asset class that hundreds of millions of people will hold.”
Virtually all cryptocurrency traders, analysts and traders have agreed that the recent announcement of Facebook’s Libra crypto project has further given legitimacy cryptocurrencies in general and been the most used digital currency, Bitcoin could use the opportunity to gain a stronger momentum.
Analysts are now looking that Bitcoin could reach 20,000 price mark, the highest it reached in 2018 before it witnessed a massive crash.
Next year Facebook’s Libra could be launched according to the plans of the Libra Association, a group of founding members who will be authorised to run the node on the Libra Blockchain.
The momentum for Bitcoin will by 2020, the period when Libra will be launched, could be very interesting to witness.
