Cryptocurrency Industry’s Response To The Launch Of Libra Project And Support Of Justin San
The cryptocurrency community is swallowed up by the launch of the Libra cryptocurrency, which has billions of users worldwide.
Justin Sun, Tron CEO, sees a huge potential growth for the industry because of the FOMO for the new cryptocurrency:
Facebook and #LIBRA. I feel a huge #FOMO and bull run for crypto is on its way.
— Justin Sun (@justinsuntron) June 18, 2019
Facebook released its own Libra cryptocurrency yeaterday along with whitepaper of a new digital currency.
The crypto community considers this event as anincentive for the development of the industry, which can potentially lead to the mass distribution of cryptocurrency due to the large Facebook user base. Investors give signals that they are ready to accept digital currency. According to the official whitepaper, Libra cryptocurrency is not only a means of payment, but also offers users an investment option for its use, which will compete favorably with the deposit offers of banks around the world.
As more and more investors are entering the cryptocurrency industry, it is possible that this could lead to a powerful bull rally.
Meanwhile, the Bitcoin is cryptocurrency number 1, for quite a long time shows bullish mood in the market.
Libra is not a competitor to the main cryptocurrency, Bitcoin, it will pose a threat only to central banks and fiat currency, because this coin is not a cryptocurrency in the true sense of the term, it is centralized, and its users do not have full control over it. Libra is a centralized federal digital currency.
It is also expected that Bitcoin will grow significantly in the coming days, as all technical indicators point to this direction. In fact, he is expected to reach a maximum of $ 20,000 in 2017 over the next few days, according to Tom Lee from the Fundstrat, while people like Max Kaiser expect to receive all $ 100,000 by 2021.
Therefore, if Libra causes a staggering growth in the market, this will obviously be just an addition to the current Bitcoin rally and the market as a whole. The cryptocurrency community will be waiting to see this long-awaited growth caused by Libra Facebook.