Vinny Lingham news

CEO @CivicKey ($CVC), building global blockchain ID platform. General Partner @multicoincap/@newtownpartnersExpect Crypto/Bitcoin tweets, often sarcastically. Active since 2011.

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Vinny Lingham Considers Bitcoin Could Still Fall Below $3,000 In The Near Future

Vinny Lingham Considers Bitcoin Could Fall Under $3,000 Most of the cryptocurrency analysts believe that the virtual currency has already bottomed in December 2018. However, the CEO fo Civic, Vinny Lingham, said that the virtual currency could drop below the $3,000 level. He said that during a conversation with Ran Neuner a few days ago. […]
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A chance that Bitcoin could still head below $3,000 exists, says Vinny Lingham

Bitcoin’s bottom was the most debated topic before the price surged. The hot topic of discussion in the crypto community now is, if the bull market has already begun and if Bitcoin will dip again before going on a massive rally. Vinny Lingham, the CEO of Civic, spoke to CNBC’s Ran Neuner giving his view on the next leg of Bitcoin’s price movement. Lingham said that he wasn’t a believer of Bitcoin’s recent rally and that he would wait until Bitcoin goes back to $6,200 and consolidates for a while. He added: “… If you look at bear market cycles and Bitcoin, typically, the bottom is dictated by a 2x rise, so the bottom so far we saw is $3,100, so $6,200 is where you can start saying that it’s going into a bull market or at least the bear markets over.” Lingham further added that Bitcoin’s historical charts showed that the sentiment typically changed when the price doubled, which would be followed by an upward momentum. He also said that bear market cycle “wasn’t necessarily over” and that there was a chance that Bitcoin could go below $3,000 level. Lingham said that he would confident after Bitcoin rises above the $6,400 level after its consolidation. “There’s two critical levels, the $5,700, which was the previous so-called bottom of the market that broke and then $6,200, which is the double of the current bottom $3,100, when we get past the $6,200, I think it will be reasonably clear.” Lingham said that the parabolic rise in Bitcoin’s price could be linked to the $100 million buy order and that it made more sense but also added that Bitcoin would be stuck in a sideways market ‘purgatory’ for a while. He also added that he was long on other altcoins as well and mentioned the extraordinary rise in Binance Coin, which surged by 350+% since the start of 2019. The post A chance that Bitcoin could still head below $3,000 exists, says Vinny Lingham appeared first on AMBCrypto.
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Bitcoin [BTC] could consolidate at $10,000 for a while if $12,000 is rejected, claims Vinny Lingham

The cryptocurrency market has been eagerly waiting for Bitcoin [BTC] to cross $9,000, however, that did not stop crypto enthusiasts from predicting what would happen of BTC after $9k. Vinny Lingham, the Chief Executive Officer [CEO] of Civic and a major Bitcoin proponent, had previously talked about how BTC dips were a ‘good buying opportunities’. Now that BTC was valued above $8k, Lingham called the movement as ‘aggressive’. He added: “This BTC action looks aggressive. Makes me think that we may blow through $10k and test $12k very soon, but $12k is a very heavy resistance level, so I would expect consolidation around the $10k level for some time if $12k is (likely) rejected.” While many users agreed with Lingham, some rejected his opinion. Peter Brandt, an old-school trader, also commented on the current BTC trend. Brandt said: “$BTC appears to be stabilizing after the 12% break on Thursday. I am willing to dip by toes back in the water.” Source: Twitter One of the Twitter users, who had studied the BTC charts himself, asked the users to be cautious due to a ‘4th rising wedge’. Source: Twitter Bitcoin fell by over 12% within five hours on May 31 and made a minimal 3% recovery the following day. At press time, BTC had a market cap of $151.91 billion and was priced at $8,565.43. The 24-hour trading volume of the coin was noted to be $23.85 billion as it noted 6.49% growth in the past week. The post Bitcoin [BTC] could consolidate at $10,000 for a while if $12,000 is rejected, claims Vinny Lingham appeared first on AMBCrypto.
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Vinny Lingham Says Bitcoin May Blow Through $10K, Test $12K Soon

By CCN: The bitcoin price is trading higher headed into the weekend and is currently hovering at $8,572, up 2.7%. After the recent spike beyond $9,000 and dramatic fall back to Earth, the market clearly is doing its best to go higher. Just ask Vinny Lingham, who is at the helm of blockchain-fueled ID startup Civic and a general partner at Multicoin Capital. Lingham, who has only recently turned bullish on the bitcoin price, tweeted: “This BTC action looks aggressive. Makes me think that we may blow through 10k and test $12k very soon; but $12k is a very heavy resistance The post Vinny Lingham Says Bitcoin May Blow Through $10K, Test $12K Soon appeared first on CCN
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Bitcoin [BTC]: Vinny Lingham claims BTC is in ‘recovery phase since the $3,100 bottom’

Bitcoin [BTC]’s recent rally had caused a lot of people involved in the cryptocurrency space to speculate that the bear market had come to a close and that a new bull run was on the horizon. This sentiment received a blow when on May 16, the world’s largest cryptocurrency dropped by 20 percent from its $8,000 highs to settle near the fringes of $7,000. Despite the downtrend, many proponents of Bitcoin have come forward to placate the fear amongst users who think that the coin will crash again. Vinny Lingham, the Chief Executive Officer [CEO] of Civic and a major Bitcoin proponent, tweeted: “We’re in a Bitcoin recovery phase right now, since the $3100 bottom. Dips should be seen as good buying opportunities unless we drop below the $6200 support level. Watch out for network congestion and fees hurting this run in the midterm if it moves up too quickly to test $20k.” The $6,200 support has been pointed out by a lot of analysts as a bedrock for Bitcoin to not fall to its older levels and maintain its current break from the sideways movement. Lingham had earlier stated that Bitcoin’s bull run may have started due to a key level and a recent pump. During the start of the BTC’s run, the CEO had believed that if Bitcoin could hold the $6,200 level for a continuous 24-48 hour time period, then the bear market was officially over. Even though the first part of his prediction came true, Bitcoin holding above the $6,200 market for four days, the signs of the bear market waning is highly unlikely as shown by the latest fall. Many users in the space had their own ideas about the price fluctuation, with Ivan BTC, a Bitcoin enthusiast claiming: “$100 fees and we made it to 20k. Network fees will not be that high this time. Also don’t think network fees hurts btc upside potential. We need the pressure so services are forced to become more efficient at batching and now incorporating lightning network. Last bull run high.” The post Bitcoin [BTC]: Vinny Lingham claims BTC is in ‘recovery phase since the $3,100 bottom’ appeared first on AMBCrypto.
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Bitcoin’s [BTC] bull run may have started due to a key level and recent pump, claims Vinny Lingham

Bitcoin has been in a bearish downtrend for over a year, but the recent and the sudden rise in prices has caused FOMO among hidden bulls, pushing the price even higher. Vinny Lingham, the CEO of Civic Key and a Bitcoin enthusiast tweeted his views on the current rally and the next possible bull rally. Bitcoin, at press time, had dipped its toes in the $6,700 level and was trading a few dollars below it. The market cap of Bitcoin has been consistently above $100 billion for more almost a week; moreover, Bitcoin dominance has hit 59%, which was last seen almost a year and a half ago, and the 24-hour price change has reached 7%. Vinny Lingham tweeted: If Bitcoin can hold the $6200 level for the next 24-48 hours, then the bear market is officially over and I’m going to become a raging bull! — Vinny Lingham (@VinnyLingham) May 10, 2019 Apart from Vinny Lingham, a lot of other veteran traders believed that $6,200 would be a major key resistance for Bitcoin to break and hold. However, some believe that $6,100 to $6,700 is the resistance. Bitcoin’s price already breached this range of resistance, however, the price rise will be significant if the price manages to close above the resistance. Source: TradingView Peter Brandt, an old school trader also mentioned that Bitcoin would make another parabolic move in the near future and said that this move would be “magnificent” and would take the price of Bitcoin to $50,000. Michael Novogratz, the founder and CEO of Galaxy Digital, also added that Bitcoin’s price will triple over the course of next bull run and cross its previous high of $20,000. A Twitter user @Amoliterno945, commented: “Nice, Mike. You went through a lot of reporters that day! Really agree with the idea alts won’t go as bananas the next bull run” Another Twitter user @OryCarter, commented: “My first bull market experience. Just when I learned how to survive with bears now I must start to learn all over… cant wait. ” The post Bitcoin’s [BTC] bull run may have started due to a key level and recent pump, claims Vinny Lingham appeared first on AMBCrypto.
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Vinny Lingham Vows to Become a Raging Bull if Bitcoin Price Holds $6,200

By CCN: Not to compare Vinny Lingham to Cinderella, and he’s not about to turn into a pumpkin or anything. But one of the biggest skeptics on the bitcoin price is hours away from turning bullish as the clock ticks closer to midnight. Lingham had made himself warm and cozy in the crypto winter, so this is a 180-degree turn for him. All kidding aside, the founder of blockchain-fueled identity startup Civic has also been a realist throughout the market downturn. He was never afraid to bet against the crowd even as the rest of the community grasped at straws The post Vinny Lingham Vows to Become a Raging Bull if Bitcoin Price Holds $6,200 appeared first on CCN
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Bitfinex Premium on Bitcoin Reminiscent of Mt. Gox’s “Good Old Days”: Vinny Lingham

Vinny Lingham, a leading trade analyst recently suggested a very ominous theory about the ‘Bitfinex Premium’ being charges for over a week now. It refers to the surcharge on Bitcoin being explicitly charged on the Exchange. The ‘Bitfinex Premium‘ at 12: 40 Hours UTC on 4th May 2019 is around $320 w.r.t Coinbase and Bitmex. It is about 5% of the weighted average of the price of Bitcoin on Exchanges. While this has attributed to the rise in the price of Bitcoin [BTC], it makes traders apprehensive due to its consistent abnormality. BTC/USD 1-Day chart on Bitfinex and Coinbase (TradingView) It signified that the demand for Bitcoin on Bitfinex is exceeding sell orders will w.r.t. FIAT and other altcoins. Moreover, the arbitrage traders have not been able to sweep the profits from the difference, or they choose to abstain from the Exchange altogether. Reminisce of the Issue at Mt. Gox? Either way, while the price is in the green, the abnormality reminisce of one the biggest and most popular Exchange Theft in the history: Mt. Gox. A lot has changed since then, like significant trading volume, better price discovery methods, and a more significant number of institutions and researchers including Governments that are tracking the blockchain and its price. Nevertheless, in accordance with the economic principle of ‘law of one price‘ of freely traded goods, it raises concerns about the situation at the particular Exchange. Vinny Lingham, a leading chart analyst, and cryptocurrency trader reiterated this fact in a recent tweet. He said, “Who remembers when a market premium started forming on Mt. Gox? Ahh, the good old days… “ The tweet is riddled with an ominous irony. The “good old days” Lingham is suggesting points to the early days in Bitcoin from July 2013-January 2014. During the time, the premium at Mt. Gox ranged above 10%. During that time, the price was letting a good story. However, it slowly built up to the destructive crash of 2014; the bear market extended for a year post the event. Bitcoin Price from July 2013 to February 2014 (CoinMarketCap) Nevertheless, the percentage of trading at Mt. Gox at that time was considerably higher than Bitfinex’s trade volume when compared to other Exchanges presently. However, the premium issue must be resolved soonly before the market is misled toward a disaster once again. What do you think are some of the other views and theories about the Bitfinex Premium? Please share your views with us.  The post Bitfinex Premium on Bitcoin Reminiscent of Mt. Gox’s “Good Old Days”: Vinny Lingham appeared first on Coingape.
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Vinny Lingham’s Blockchain Startup Civic Cuts New Deals with a Dozen Retail Partners

The post Vinny Lingham’s Blockchain Startup Civic Cuts New Deals with a Dozen Retail Partners written by Richard Kastelein appeared first on Blockchain News - Security and Utility Tokens, Tokenomics, Cryptoeconomics Civic has just announced an expansion of the Civic Network with AAEON, AR Systems, Fastcorp Vending, Global Vending Group, greenbox Robotics, Invenda, IVM, IVS, Retail Automated Concepts, SandenVendo, The-Venders, and Wemp joining the project. “The first step in making digital identity attainable is making it accessible for the everyday consumer,” said Vinny Lingham, Civic CEO […] The post Vinny Lingham’s Blockchain Startup Civic Cuts New Deals with a Dozen Retail Partners written by Richard Kastelein appeared first on Blockchain News - Security and Utility Tokens, Tokenomics, Cryptoeconomics
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Cryptocurrency bubbles will disappear as security tokens go mainstream, says Vinny Lingham

The oft-touted claim by traditionalists to ridicule cryptocurrency proponents is that Bitcoin [BTC] and all virtual currencies are merely a bubble. The December 2017 surge, its subsequent fall, and the long crypto-winter are often used to substantiate these claims. True or not, one cryptocurrency proponent is in the news after stating that these “bubbles” will decline in the future, as development ramps up. Vinny Lingham, Co-founder and CEO of Civic, mulled the future of the cryptocurrency industry against the looming prospect of security token introduction, through a series of tweets on April 14. He began by affirming entrepreneurial freedom in the cryptospace, relative to its traditional financial counterpart, citing the latter’s low “success rates.” The rewards of this crypto-success will be “far greater” than the post-dotcom bubble success of the FAANG companies, he added. FAANG refers to Facebook, Apple, Amazon, Netflix, and Google, the top 5 best-performing technology stocks. Lingham highlighted the individual nature of the dotcom bubble, while referencing the multiplicity of cryptocurrency bubbles that have caused various ripples in the coin market. As security tokens enter the mainstream, crypto-bubbles will disappear, he said. His tweet read, “Crypto has had many bubbles already, but as the industry moves towards things like security tokens that have yield curves, bubbles are unlikely to form in those sub-asset classes.” Tokens, primarily a product of initial coin offerings [ICOs] or other forms of tokenization, draws parallels with cryptocurrencies, but represent an external asset which can be traded on a particular platform. Investors are given these tokens after an ICO, allowing them to vote, stake, or access certain facilities within a network. Cryptocurrencies have been tirelessly vying to remove the security tag, as it increases regulatory oversight and decreases adoption. However, with the re-introduction of the Token Taxonomy Act, virtual currencies may not be classified under the definition of a “security” within the United States. However, Lingham still pegs security tokens to “hit the mainstream as alternative ways to finance network effect opportunities.” He added that this will not only benefit the industry and prevent the bubble from forming, but also enhance utility token models as well. The Civic CEO also added that the April 1 Bitcoin price rally, which saw the coin climb over $5,000, was not a sign of the end of the bearish cycle. According to him, BTC will need to push above the $5,700 to $6,200 range for 1-2 days, for the “crypto-winter” to subside. A price double the touted bottom needs to be reached to confirm the departure of bearish sentiments and to shift the momentum upwards, he concluded. The post Cryptocurrency bubbles will disappear as security tokens go mainstream, says Vinny Lingham appeared first on AMBCrypto.
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Bitcoin.com Just Rebranded – Check out Our New Look

You may have noticed that Bitcoin.com is looking a little different. We’re excited to unveil our new look after six months of hard work. Our domain has a long history, and as a company we’ve grown a great deal. After consideration of the crypto future ahead of us all, we decided to reshape Bitcoin.com’s design to present a greater image of things to come. Also read: How to Exchange Your Amazon Gift Cards for Bitcoin Cash Bitcoin.com’s Revamped Design Is Here Operating the domain Bitcoin.com has been a wonderful experience and we’re pleased to give our visitors the very best services when it comes to the growing crypto industry. Bitcoin.com is a very unique website and most people don’t know but the domain was registered in January 2008, a whole year before Satoshi unleashed his invention on the world. Bitcoin.com’s home page. Since then, Bitcoin’s first angel investor, Roger Ver, took over the website in 2014 after it passed through many hands. Ver began to mold the web portal into a site that offers educational resources, news, and unique tools that help people use bitcoin. When we first created the Bitcoin.com brand, our website was much simpler. Over time, however, we added a plethora of tools, services, and resources that provide our visitors with everything they need to jump into the crypto ecosystem. In order to match the consistency of the powerful resources Bitcoin.com offers, we refined our design with a new logo, colors, and themes. Check out Local.Bitcoin.com, the private, peer-to-peer BCH marketplace. You will probably notice our logo is missing the Bitcoin symbol. When redesigning the website, we decided it was best to distinguish Bitcoin.com from the various Bitcoin cryptocurrency networks out there today. The intention of the new logo is to prevent users from any potential confusion from the domain name mixed with the old logo. Moreover, after five years and the craziness of 2017, we felt it was time to update our appearance and express ourselves as a company that fosters innovation. You will notice that the new color scheme is more contemporary and reflective of the evolving industry we’re in. Every section of the website has been revamped to highlight our services such as the Bitcoin.com Wallet, Local.Bitcoin.com, cloud mining, Markets.Bitcoin.com, daily news, Buy.Bitcoin.com, bitcoin cash games, BCH developer SDKs, and our block explorer. Learn the basics of Bitcoin. With our growing number of bitcoin cash resources, tools, and services it made sense for our branding to change too. During the design launch, Bitcoin.com CEO Roger Ver stated: The rebrand is a bold new chapter for Bitcoin.com. It’s an invitation to everyone out there: let our products show you how economic freedom can empower you. Keep up to date with the latest crypto market price action at Markets.Bitcoin.com with the top 500 cryptocurrency market caps. Improving the Overall Visual Experience of Bitcoin.com For six months we’ve tirelessly worked on our brand and website design in order to present a cohesive visual interpretation of our company and its crypto evolution. Today, we’re thrilled to unveil our new brand and show off all the hard work we’ve put into every facet of the web portal. When you visit our landing page you will see the fresh new look accompanied with great resources on getting started with bitcoin basics. Mine bitcoin without having to buy equipment. The homepage also includes guides on learning how to accept borderless BCH payments, access to our local BCH marketplace, a merchant directory so you can spend BCH online and in-store, and learn to mine bitcoin without technical knowledge or owning machinery. The new design gives us a better visual identity so we can continue to provide awesome looking charts, crypto market valuations, the latest news stories, podcasts, and videos. Look up bitcoin cash (BCH) and bitcoin core (BTC) transactions using our block explorer. “Bitcoin is designed to be usable and accessible for all — Our new color palette, in addition to our products and tools, reflects that principle,” Bitcoin.com Head of Design Andrew Todd remarked during the launch. “Reimagining our brand, we took a step back and identified our values. With universal accessibility being our most important value, we set out to create a color palette that would not only resonate with people and help create a lasting identity, but would work seamlessly across devices, in different environments, and for people with visual impairments.” Todd continued: Our new logo also exemplifies accessibility. It consists of bold and legible ‘Bitcoin.com’ logotype paired with a clean grid of blocks, which is representative of the intended scalable nature of Bitcoin blocks themselves. Color-wise, we have the brightest green moving in an upward-right trajectory, showing constant growth — This is finished by tight kerning of the Bitcoin.com lettering, reinforcing the solidity of our brand. Start accepting bitcoin cash (BCH) today and get help getting started with our merchant solutions. It was important for us to update our brand to make it easier for you, the visitor, and we think the new design improves the overall experience and usability of the site. While the aesthetics of the brand were a large factor, we are still molding Bitcoin.com to be the perfect place to gain information and resources on all things bitcoin-related. We plan to continue to adding to the features of our web portal and we think the new style fits perfectly with the bright future ahead. So if you are just noticing the new changes, take a look around and explore Bitcoin.com in a whole new light. What do you think about Bitcoin.com’s revamped brand and image? Let us know what you think about this subject in the comments section below. Image credits: Bitcoin.com Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely. The post Bitcoin.com Just Rebranded – Check out Our New Look appeared first on Bitcoin News.
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Libra/Globalcoin: Facebook Stock Price Target; eBay, Vodafone and Coinbase in List of Validators

Project Libra, the cryptocurrency initiative of Facebook has also led to the formation of an Association to facilitate the decentralization of the cryptocurrency. These are called nodes or validators; the validators are made to pay a hefty fee and promised returns on it. Moreover, it works on distributed consensus, i.e., numerous validators working on a single ledger. Hence, confirming malicious transactions can also incur punishment to the nodes. The partners or validators of the cryptocurrency includes some of the most prominent industry leaders from around the world. Reported previously, Visa, MasterCard, Uber, and PayPal included the lost of backers. Some of the other names which have come up are Vodafone, Coinbase, Spotify, eBay and so on. Partners of the Libra Association (Source) Facebook’s Projected Growth According to a leading market Global investment bank, RBC, Facebook’s Globalcoin will generate new revenues for the company. RBC analysts Mark Mahaney and Zachary Schwartzman said in a note to investors, “We believe this may prove to be one of the most important initiatives in the history of the company to unlock new engagement and revenue streams,” The price target of Facebook’s stock, according to them, is $250. Anderson Horowitz is also a member of the association who has invested $10 million. Mahaney and Schwartzman also said, “We believe Facebook will use crypto to facilitate a platform for: 1) Payments; 2) Commerce; and 3) Applications & Gaming,” Also Read: Facebook’s Cryptocurrency: A Friendly Bet and Immunization from Privacy Laws Payments Facebook has over $2.3 billion users, not including users in its subsidiaries WhatsApp and Instagram.  The introduction of a new cryptocurrency will initiate payments among all these users. Moreover, the associate members also include eBay and Vodafone, which will enable more users to use to cryptocurrency in any amounts. Commerce Facebook’s primary source of income is through advertisements. According to estimates, the company might expect a $19 billion rise in revenue by cutting the cost paid to handle online payments through third-party sources. Facebook also plans to give out employee salaries in the form of the new currency. The cryptocurrency promises stability, fungibility, and cross-border transactions. Moreover, eBay, which is one of the largest online marketplaces globally, could also implement it as a mode of payment. Applications and Gaming The sources have revealed that Spotify, Zapo, Uber, and other apps and online gaming giants are also looking to integrate with Project Libra. Facebook supported Log-ins in favorite games like poker, PUBG, and numerous others could also extend support for the new cryptocurrency wallets. Furthermore, Coinbase’s interest also increases the possibility of it getting listed on the Exchange. This is a good piece of news of cryptocurrency investors. Nevertheless, the new regulations and the market share of the new cryptocurrency can also adversely affect some altcoins. What will the estimated market capitalization of the new cryptocurrency? Please share your views with us.  The post Libra/Globalcoin: Facebook Stock Price Target; eBay, Vodafone and Coinbase in List of Validators appeared first on Coingape.
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Crypto CEO: Launch of Facebook Libra Could Boost Bitcoin (BTC) Past $10,000

June 18th is nearing, and that means that Facebook’s crypto asset, expected to be nothing like Bitcoin (BTC), is on the verge of becoming full public knowledge. For those who missed the memo, reports released by TechCrunch and other mainstream outlets revealed that the social media giant was planning on releasing a white paper for “Libra” or “Globalcoin”, as the project is known as, on the 18th. Related Reading: Family Offices Pour Billions Into eSports, Can Crypto be Next? With this, industry commentators have come out of the woodwork to express their thoughts on the subject matter. And interestingly, some are divided on whether the release of this cryptocurrency will be bullish or bearish for the industry. Most, however, are sure that Libra’s foray into the mainstream will be unequivocally positive for Bitcoin and its altcoin brethren. Facebook’s Crypto to Boost Bitcoin Sky-High According to a recent tweet from Jeremy Allaire, the chief executive of Circle, the launch of Libra (whitepaper) will be a “massive inflection point in [the] global adoption of cryptocurrency.” Infusing the space with a nice dose of FOMO, the prominent entrepreneur adds that by June 21st, he fully expects for Bitcoin to be valued at $10,000, “marking [the] start of Crypto Summer.” Crypto market rallying (again) ahead of Libra launch, marking a massive inflection point in global adoption of cryptocurrency. BTC > $10k by June 21st, marking start of Crypto Summer. — Jeremy Allaire (@jerallaire) June 15, 2019 While $10,000 may seem like just a nice round number, many see it as a key level to watch. According to Fundstrat Global Advisors, once Bitcoin reaches $10,000, “Level 10” FOMO will grace this market, which last occurred when BTC blipped above $4,500 in late-2017. If history is any guide, the cryptocurrency market will shoot even higher once $10,000 is breached. As Lee wrote on Twitter earlier this month, “[$10,000] will see FOMO from those who gloated about the 90% crash in BTC… and those who saw Bitcoin dead as forever.” While Fundstrat has long had its eye on the $10,000 price point, its analysts never indicated a price target — until now anyway. In a recent podcast with Binance’s chief financial officer, Wei Zhou, Lee explained that once $10,000 is breached, all hell will break loose for the cryptocurrency market. This corroborates the aforementioned analysis of this nascent market’s “FOMO levels”. Per CCN, which reported on this first, the Wall Street analyst stated that once $10,000 is breached, there will be a “fast and furious” move to $20,000. And from there, Bitcoin will double in the next five months, reaching $40,000 in a jaw-dropping move. Some Beg To Differ There are some that rebut this cheery sentiment about Libra, however. Peter Schiff, a prominent gold investor and libertarian-leaning economist, ventured that Facebook’s latest project will be “bad news” for Bitcoin. Schiff, who has debated crypto pundits like Erik Voorhees and Barry Silbert previously, adds that Facebook will be targeting the unbanked in “nations with high inflation (Venezuela, for instance)”, thus threatening the biggest medium of potential BTC adoption. The prominent cryptocurrency critic, who sides with the belief that BTC has no intrinsic value as is not better than hard gold, adds that Libra will likely be much stabler, cheaper, and more easy-to-use than Bitcoin. Indeed, there are reports and individuals stating that the Facebook play will involve very low fees, fast transfer times, and a level of stability not seen with Bitcoin, in that this new cryptocurrency will be pegged to a basket of traditional currencies and maybe other ‘stable’ assets. Featured Image from Shutterstock Crypto CEO: Launch of Facebook Libra Could Boost Bitcoin (BTC) Past $10,000 was last modified: June 16th, 2019 by Nick ChongThe post Crypto CEO: Launch of Facebook Libra Could Boost Bitcoin (BTC) Past $10,000 appeared first on NewsBTC.
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