Analysis News

Bitcoin (BTC) Pump: Is it a Swan Song?

The bitcoin pump is strictly in line with the Coinstelegram forecast rise to $ 15 K.

The market is also growing, although Bitcoin Dominance is keeping close to record levels and does not intend to decline.

It seems you can live and enjoy! But in such moments, we must recall the Murphy’s Law and the consequences. One of them is: “If things are going well, it means that you do not notice something.”

Corporate currencies instead of crypto

Obviously, the current growth is due to the participation of the institutionalists and whales. It is also possible that the notorious FOMO (Fear of missing out) is already in operation. And all this on the eve of Libra project development, that may start after hearings in the Congress on July 17.

There is a lot of positive in crypto community on this subject. They say that Libra will turn everyone to crypto, and we will live in the cryptocurrency New World. This purely emotional judgment is not based on anything serious, solely on positivist reasoning. But considering the facts, events and functional factors gives a different picture.

The statement by Andreas Antonopoulos, a well-known crypto lawyer, in the UK, in Scottish Edinburgh, at the meetup dedicated to Libra, caused widespread discussion. The expert said that Libra is not intended for people, but serves the interests of Facebook Corporation. Therefore, it is highly likely that its impact on crypto market will be negative, as any corporate project, Libra will strive for the greatest possible market share. In conditions of almost complete lack of regulation, this will lead to crowding out of historical cryptocurrencies. Moreover, it is highly likely that Libra is only a trial ball. Following it, other “corporate currencies” will be launched. Such projects will be launched by all others of FAANG (Facebook, Apple, Amazon, Netflix, and Google).

In such conditions, cryptomarket as we know it, will be quickly crashed. The so-called “corporate currencies”, as for Andreas Antonopoulos, which start with Libra, will give rise to the tripartite problem of the coexistence of fiat state money, cryptocurrency and corporate currencies. This will inevitably lead to tight regulation in favor of the last one. It will not be possible to play and earn with Libra like with other cryptocurrencies, or at least like on Forex. Libra will be tied to a basket of fiat currencies, and its volatility will be substantially less than even the volatility of some fiat currency alone.

So – it’s time to catch the moment! We are still able to make money on the volatility of the good old crypto. And if the forecast does not lie, with Bitcoin, you can still earn up to 20% in a week. But this is not a financial advice.

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