Amid tensions such as the still-not-entirely-resolved US-China commerce conflict and the G20 Summit in Osaka, traders have turned to the crypto markets as soon as once more, with Bitcoin reaching an 18-month high this week.
The world’s greatest cryptocurrency peaked at $13,666.02 USD this June 26, the highest stage it has been since January of 2018. The high level marks a 260 percent increase simply this year alone, though it has but to return to it’s highest degree ever recorded — virtually $20,000 USD in December 2017. Crypto consultants and analysts such as Simon Peters, Senior Account Manager at eToro, recommend that the sudden influx of traders returning to cryptocurrencies is basically due to Facebook’s announcement that it would be joining the crypto world with its own Libra currency. Peters optimistically predicts that “We may see bitcoin reaching 50,000 and even 100,000 dollars this year.”
As for Facebook’s Libra, the giant social media firm has introduced its intention to join the crypto markets with the help of its upcoming platform Calibra. The brand new digital currency shall be ruled by the 28 co-founders of the Libra Association, including Lyft, MasterCard, and Paypal, and can debut sometime in 2020.