Topic: What Zuckerberg & Libra Have to do With The Crypto Market? How Low Will BTC Goes (Read 584 times)

You are actually joking about that. Facebook has very big companies and children companies. Facebook has nothing to do with crypto and it has a good team to create its own payment system to be used on all of the platforms under facebook companies.
What you are saying is a non sense thing because libra has a very capable team and the problem is getting the regulatory approval and that's the only problem.

what the hell u talking about ?
"a lot traders blaming Zuckerboy " for what ? , where the exact info about it ? because when i click what u linked on your post just stupid info about how to buy libra. This is totally different from your title and what is in your article.


this even makes no sense to me , it's just stablecoin using blockchain tech.
this is not a new hope as many people think.

I dont think facebook had been able to prove the reason for another coin in this space, government is struggling with the capacity of facebook in the market considering the roaming news of how they handle privacy and the financial strength to be a force in the market. After all the drilling they could not defend their position in the market and some of their functions. Maybe zukerberg does not have good team to prepare very well for the product.

The only way that I can foresee Libra interacting with traditional decentralized cryptos is through being a trading pair with them, much the same as the role that USDT and TUSD are fulfilling right now.

It's extremely unlikely that a tangible integration will occur between the two, simply because one is solely controlled by a multibillion dollar company, while BTC is decentralized.

Also, I doubt that there will be a significant crossover between the two, in terms of user base and adopters.

Libra and Zuckenberg has nothing to do with BTC price, as you can see now your attempt to tie those things together had no success. Bitcoin had a great surge even with news that LIbra is falling apart, some of the members are withdrawing from the project.

The Libra association which is behind the 'cryprocurrency' Libra are major mainstream powerhouses with users in the billions and hundreds of millions. Libra, if successul,  invariably opens up the cryprocurrency market to its users by serving as a gateway. It's basically like those brands endorsing cryptocurrency as a payment means.

The problem is Libra was basically the first mainstream adoption of blockchain, they would have created a coin that is centralized and heavily regulated and basically nothing to do with bitcoin itself but at least it would have been better than god damn USDT, that is for sure.

Think about it for a second, a currency where people can send money to each other from whatsapp and instagram, a currency where you can buy on binance and works exactly like USDT, a currency that has fast transactions and also stable fee as well instead of the current moving ones we have right now. It would literally be dream come true for ease of use on all traders and people who work. I am a freelance worker and it would have been awesome to get paid on instagram with Libra and turn it into bitcoin at binance and withdrawing to my local account for fiat.

I dont think bitcoin will be affected with Libra Issue. Bitcoin has its own reputation and will not be stumble upon the projects of others. Im not sure it will affect so much since its just a new project. Maybe it will boost market if the project Libra really has capability to shape the crypto industry. But dragging bitcoin isnt not that related at all.

Libra and Facebook don't influence crypto market much, Libra is having problems because it's centralized and owned by a company that has a long history of abusing power. The recent meteoric rise of Bitcoin should clearly demonstrate that there's no correlation with Libra, so whenever it looks like there's one, it's just a coincidence.

They all think that most investors and holders will turn their faces to Libra because it is 'promising' and probably that's why they are blaming Mark for that project. Didn't they've understood that Libra's token is going to be a stable coin? means no fluctuation just like Tether and they can also print as many as they want. If there will be a pair for Libra/Bitcoin for most exchanges it will be listed then let's expect that there will be an effect but until now, it hasn't been launched so chillout.

From my point of view, there will not be any impact to Bitcoin because of what so ever conditions will be with libra. Bitcoin is leader of  cryptocurrencies and in future many such coins like Libra will come buy can not affect Bitcoin.
I see till May Bitcoin can touch 6000 but after halving rewards event, it can touch 15000 mark by the end of December 2020.

I believe that today you can stop speculating with news regarding the Libra project and its implementation.  There has already been an official statement by the team that a moratorium will be declared on the launch of the Libra project until the US government allows developers to implement it.  And we all perfectly understand that this will never happen.

Basically if the Libra coin will going to operate early, and even without the permission of the US regulation, Mark Zuckerberg says he will leave the Libra. But in terms of this, there's no reason yet to blame Libra as it was not even launched yet, crypto volatility is the reason why red market is there, with many factors to consider a not by blaming a project that doesn't even in the market.

There is no connection at all. Libra cannot pull down nor push up the price of Bitcoin because it is nothing yet but a mere plan. How can a project that has not even started to make public influence the crypto market? Libra is nothing yet as of this phase. And even so, they are already attacked from all sides. But then these attacks cannot have any impact on Bitcoin or the crypto market because Libra is not yet within that market. There can never be any damage to Bitcoin simply because a certain stable coin will not be born.

I think libra issue and falling bitcoin prices have no correlation at all. Fundamentally it does not connect. Many things affect the price of bitcoin, like market demand, fundamental issues related to bitcoin, new updates such as forks, halving, etc. If associated with Libra, it is very far away. Like a word, who is Libra, who is bitcoin. But maybe with the Libra issue, ordinary people are starting to understand what the crypto world is. This is like free advertising for bitcoin.

Most of richest people in this world are saying bitcoin or cryptocurrency is just a bubble.
And i think zuckerberg is struggling with them, make them trust to join and build a cryptocurrency environtment is not easy.
So, i think zuckerberh is still doubt the future of their libra that's why many companys left them

Even by talking about perspective of Libra causes a huge influence on the whole market. Some would say that nobody would use Libra, but in my opinion it would be a huge step towards crypto currencies mass adoption.

I do not get why Libra would be blamed. Even before the announcement of Libra, the market had always melted and came back up. It has even seen worst days. Libra actually announced the crypto world to many who hasn’t been paying attention. No blame on Libra. I those traders just want to blame something or somebody for their losses.

Not to be blamed on Mark Zuckerberg, Libra and Bitcoin for the market to go down, the rise and fall of Bitcoin depends on many factors that sometimes cause the price to fall in the course of its direction. Mark Zuckerberg, Libra is also a company. What they do for the electronics market is likely to be further developed, and forcing them to do everything for Bitcoin discount is impossible.

Categorically I can't see what will make Libra contend with Bitcoin or Libra having a side affect on the price of bitcoin, remember that; bitcoin is not a stable coin and cannot be affected by altcoins price, rather the reverse is the case. Libra has failed woefully based on the questions asked by the house to the CEO "Libra is not different from PayPal" also, it design has not been good for the betterment of the financial industry.

in my opinion there is no relation between the stable Libra coin and bitcoin. both are different from decentralized bitcoin which no one regulates and controls. whereas Libra is regulated and controlled by the Libra Association.
and the ups and downs of bitcoin prices have nothing to do with LIbra. bitcoin is indeed like this always fluctuating. a few days ago bitcoin dropped in price by $ 7.5k later today its price has gone back up to $ 9.6k. bitcoin fluctuations are common.

When there is a matter of confusion regarding this platform then the USA, France, and Germany government are trying to protect Libra and Zukarbarg's step towards blockchain, so it might bring another confusion toward people because they could think that Blockchain still has some negative aspect and it's a matter of credibility so blame could go to the Libra and its movement, but all the negative things will swipe out when the price of Bitcoin will get raised and people will also get impressed by that time, I think this year is very crucial for this platform and it's already started to gain its speed again. let's see what will happen next.

I was thinking the same thing. Crypto right now, including Bitcoin depends on speculations.

If you are talking about price manipulation maybe it wont happen the point of Libra is that it's a stablecoin therefore the manipulation of price is not likely to be happening but we won't know if it's other thing like capital manipulation or anything else. in the past there are rumour about tetherprinting massive amount of usdt and people think that is a volume or supply manipulation but Libra could just do that, considering that they  also have done grave mistake in the past regarding privacy of their users.

This is my own opinion. I think he's not at fault here. This is just a humorous blame when sharks sell off their bitcoins. The fact that libra coin has been initially diagnosed is difficult to form. due to its size, it could become the largest manipulation organization and not be sought by law. It is accompanied by numerous money laundering and information security issues.
It was too difficult for Mark to start Libra.

The United States government is afraid of anything that's not the dollar. That's why China is kicking our butt on everything technology right now.

I was thinking the same think. Politricks always win.

What's the connection on something that is not yet existing in the market, are traders that idiot to sell their stakes to something that is not yet live trading in the market, like all the other comments here it's a whale manipulations, we can think of other factors why Bitcoin is dropping but not to the point that bitcoin is dropping because of a non existing coin or project.

It definitely isn't related, but some people are playing the FUD game. Unlike you, i doubt Libra would ever challenge Bitcoin, or even the top altcoins, it is too flawed to succeed, even without government meddling.

The only good thing from this is that it is somehow bringing the cryptocoin discussion to the table, and minds of many people. And some are even asking, why is Bitcoin good and Libra bad? Ie. one is allowed while the other doesn't? Then its your perfect chance to explain why.

Bitcoin is free (as in freedom), while Libra isn't. This dip, this fluctuation, is reasserting you and everyone that yes, Bitcoin is and remains free, and that is good. Market forces will stabilize, if you are in doubt, zoom out and see the whole picture! The best price is what the market says, just give it time its fluctuations are natural. And take the chance, when its cheap to invest, then hold and relax.

If you are American, you have zero reason to use Libra over the USD anyway, but Bitcoin is a whole different matter, in the long run it preserves your purchasing power, while Libra doesn't, because its pegged to tokens pegged to fiat made unlimited by governments, while Bitcoin is limited by code to 21M.

Deflation is good but the Chicago boys won't tell you, they like everyone in debt and bubbles that pop rather than a stable steady rock growing economy backed in real savings rather than vapor money. Just read the Austrians...

I don't like seeing Bitcoin going down, and I don't look forward to the launch of Libra. I also think that Libra can possess a threat to Bitcoin in the future. However, I don't find it rational to blame Libra for Bitcoin's current issues! I mean, Libra is just a project right now, it's far from being finished, and it's even further from actually being used and thus being associated with "cryptocurrency" by people. It cannot pose a threat, not yet. Moreover, I don't think that Libra's failure (and this is something that's happening now with a harsh time Zuckerberg had in the US Congress) can affect Bitcoin's price troubles since Bitcoin is nothing like Libra anyway.

You know, if guys like you just stopped posting new threads about Libra and Fkerberg, maybe fewer people will actually care? I mean, I actually like it the market faces more selling pressure after the bad news on Libra (and sorry guys, but it's never going to be good news!). Works perfectly for me and delays my Bitcoin gratification.

But if you have a problem with bad news, then simply stop adding fuel to the fire =)

I think that is the highest height of stupidity to have blamed the drop of bitcoin in a project that is yet to be established, wherein, this project would even have no effect on bitcoin if it was released. Libra coin is intended to be a stable coin, while bitcoin is a decentralized coin that is high volatile, and it is through this volatility that a lot of organizations has been able to make money for their company, while it is through this volatility also that many traders are able to trade bitcoin easily and getting lots of profit through the trade.

Stable coin, can never function as much as all these type of coins like bitcoin would, they only function as reliable payment, but no other means of making it through the coin, while bitcoin performs different functions.

It has a lot to do with crypto market because we are talking about cryptocurrency system and Libra is a crypto so the big publicity went to Bitcoin yesterday as it was clearly that the USA is afraid of Bitcoin to reach the point when it no longer can be controlled by Governments and this is the issue with Libra as well. If Bitcoin goes even lower will be because whales will give another chance for everyone to step in the game and buy Bitcoin and nothing more.

And this is the problem. People see the rejection of libra as the rejection of cryptocurrencies. Like it or not Libra poked the bear. The bear was already full of negativity towards crypto but crypto companies rarely asked the bear for his opinion. They rather listened to whatever fart and burp he produced from time to time and acted like it's the sweetest smell there is just to be able to walk by. Zuckerberg wanted a regulated crypto and suddenly every old fart congressman had to take a stance and voice his opinion.

I don't think that Libra and Facebook has or will have any negative impact on Bitcoin and cryptocurrencies. If any it is going to be a positive impact as it will bring a lot more awareness as I assume that pretty much all active Facebook users will at least check out Libra and what is it. I think that BTC still has some legs to go before we see the reversal. If we break the $7000 support I'll look for the price to go in the $5000 range.

We should not be threaten about Libra, they are nothing compare to Bitcoin, and for BTC, as per the expert it will not go below $7k, but still let's watch it out, it will always depends on the panic of the people, and this is not purely because of Libra, we all know that if you are crypto enthusiast, you know that Libra is worthless.

A lot of people are relating it because Libra is also expected to be a part of the crypto and blockchain scenario (Which is highly unlikely in reality). But none of them know-how different and unlinked they are. 

I don't think the recent crash had anything to do with Libra.  I think if anything it had something to do with Bakkt, but I couldn't even say that with any certainty.

It is also possible that there was no real reason for the dip/crash, that it was just due to normal market conditions where more traders were selling than buying.  We all like to look for concrete reasons for why bitcoin does what it does, but sometimes there just aren't any.  But in any case, why would anything regarding Libra affect bitcoin like this?  The only reason I can think of would be big wall street traders acting on news, like they do in the stock market.  Maybe they think the regulatory obstacles Libra is facing might translate into something that affects bitcoin's viability.

Who knows.

Isn't this just despicable and a vindictive move against Libra coin which hasn't yet come out, the possibility of Libra or Mark Zuckerberg being the cause of cryptocurrency red signals is unbelievable and false

Actually, Mark Zuckerberg Trying Hard for Libra, US Congress isn't Convinced Yet

Please read the OP for the second time around. He is not making assumptions, in fact, he is asking "why are the other people are making that assumption?". We all know that it has nothing to do with the price dips lately. The price could be manipulated by the whales, its purely by demand and supply, which is dictated by the consumers themselves. I also don't think having Libra is making people dump bitcoin since it's just another altcoin that's going into market. Cryptocurrency is not only bitcoin, it's every blockchain-powered coin out there.

Zuckerberg and Libra waiting permission from united government to adoption and publish Libra coin for public investor, I think united government dislike with Libra coin by never give permission for Libra become legal currency payment, US government's look very afraid one day Libra coin become most profitable and have many user around the world to use Libra as legal payment than have use other digital payment.

Mark Zuckerberg and Libra become victim because the market is deteriorating. But if we think smart there is no relationship
between the market down with project libra. This really does not make sense, maybe people are spreading this issue again
frustration and severe stress due to current market conditions. But if investors are more patient in holding bitcoin, don't panic sell
maybe this condition will not last long.

People who does not know the real situation tends to look for someone to blame and this time it is the  Libra project.  I do not know what is the relation of Bitcoin price drop to Libra since Libra had never been launched yet so it does not eat a share on the pie of cryptocurrency market.

Several prediction stated that Bitcoin will probably go below $7000 but that was pure speculation because no one knows what will be the next price movement of Bitcoin.  Other say that if Bitcoin goes sideway in range of $8000 for several weeks, Bitcoin will possibly revisit the $6000 price range because the speculated that those who have longed in the previous bitcoin rally will probably sell out due to being impatient.

Though media calls Libra a Bitcoin competitor, it has nothing to do with Bitcoin at all.

Well, when Libra was first announced a lot of buzz was created in the media and a lot of people looked seriously at investing in Crypto currencies, because a large corporation like Facebook was interested in creating their own. It was mostly driven by FUD that was spread on Social media platforms and a lot of misinformation.

So, it was to be expected that if the government of the USA are to request Zuckerberg to speak to their concerns about his companies decision to create their own digital payment option, then speculators that are misinformed again, would withdraw their investment in Bitcoin as a preventative measure. 

OP, how can anyone blame something that will NEVER EVER launch? LIBRA WILL NEVER LAUNCH. The regulators will never let a powerful group of tech-companies play the role of the Federal Reserve for internet money.

Bitcoin costs have quietly been in meltdown mode in recent trade which trend has accelerated amid testimony on weekday from Facebook Iraqi National Congress.’s chief operating officer Mark Zuckerberg as he tries to create a case for digital-currency payment platform Libra.
Zuckerberg is testifying ahead of the House monetary Services Committee as a Facebook-backed Libra cryptocurrency venture faces stiff restrictive headwinds within and outdoors of the U.S., with lawmakers and market pundits expressing deep issues that the planned payment system may be utilized for illicit activities.

Libra has nothing to do with the market. It is just a bear market. Historically October and November always have a bearish trend. Bull market will be back soon, so sit tight and wait.

I have read and seen about Mark Zuckerberg who is giving a speech in parliament and some figures who are arguing with each other. Are you sure because of the debate, I think the impact it caused is more to affect Facebook and Mark's company. Isn't there a good step for cryptocurrency if libra is launched, facebook also says libra will not avoid regulations that will be determined later.

there is nothing to blame here! this drop has nothing to do with Libra, people love to find excuses when there is a panic sell in the market and assign blame to someone or some incident and then panic sell some more with that excuse. Libra has been the case here. they started assigning the "rise" to Libra a couple of months ago when price was already high and now they are assigning the "drop" to Libra again as if the two have anything in common!

The reason is most probably not this, but some may think that the hype around Libra and the proposed regulations (of which some may affect Bitcoin too) may have made investors get out.

Imho the current state is simply speculation and I expect to see pretty soon a trend reversal.

I don't know what kind of traders they are but there is nothing I can see why the entire crypto market is blamed on Mark Zuckerberg and Libra. Or does the imminent fall of Libra really affect the way the entire crypto is perceived by some traders? Not sure how some traders interpret how things are turning out for Libra and Mark Zuckerberg, but I don't think an attack on Libra is an attack on Bitcoin or crypto, or that the fall of Libra is also the fall of Bitcoin or crypto.

Who is blaming Libra here? I thought people are over with that hype project already. And besides, when the price goes down, we ought to find the reason and not blame someone or something. There could be whales manipulating the price again.

Or it is just the way the price needs to be at this point. Before we can enjoy another break out run at the end of the year or even goes five digits again. So there is no correlation whatsoever to bitcoin price going down to Libra coin.

Honestly, I am finding it hard to connect Libra and the current big dip that is happening with Bitcoin. And that article you just cited was published last month and it is talking the past month's dip and not the ongoing one. People have this tendency to look for answers as the possible cause of a certain event or result and when they can find one, they tend to just mixed things up and come up with a convoluted conclusion. No, I don't think we are buying this "shit" as we are already intelligent and experienced enough to discern things happening in the world of cryptocurrency. Just because we don't like Libra, it does not mean we can just use it as our scapegoat. By the way, who are these traders who are connecting the crash of Bitcoin to Libra? Just wondering here...

Its either you don't really know and understand anything about the entire crypto market or you are just new in the crypto space. How can you just make a post saying Libra has something to do with the crushing of the crypto market. Since 2018 till now, the crushing of the crypto market is not something that is new to people in the crypto space. Libra and Zuckerberg can't be the reason behind the crushing of the market. Price fluctuations are just the nature of the market. You just need to take advantage of it and make some profits out of this crushing rather than making silly assumptions.

The fact that it's going to fail because of Government regulations and almost every western government bodies coming for Libra is trouble for crypto. People looking at the challenges Zuckerberg and Libra is facing as a sign of what to come for the crypto market...bad policy and resistance.

Zuckerberg was in front of Congress today testifying. That has gotten a lot of publicity.

Nothing, this is a presumptuous statement. Libra means nothing, its going to fail, its seriously flawed by design.

First you have fiat, and everyone here knows how fiat is a time bomb, the very reason Bitcoin exists is to get rid of it. Then, you have tokens, that are "pegged" to fiat, this of course depends on the goodwill of the people running those token, and they use fractional reserve too, so its even worse than fiat. And then you get this... "Libra", pegged to those tokens... I mean, seriously, how could you not see it?

Just be aware of this: The more BTC goes down, the more dramatic its recovery will be. After all, halving is coming...

I don't really understand the mindset behind this - how can Libra be to blame for bitcoins recent dumps in the market? They are barely alive as is.

In the recent weeks, 5 or so of their biggest partners (PayPal, Ebay, etc) all pulled out and everyone was speculating that they where a dead project and would never launch. Still looks like the case and definetly doesn't affect Bitcoin.

It's likely due to a range of factors, from whales to just a normal dump due to people selling, it's nothing huge though so no need to panic just yet.

A lot traders are blaming Mark Zuckerberg and his Libra stablecoin for Bitcoin's and the crypto market sea of reds today. What does Zuckerberg and Libra have to do with the crypto market? It's just another project right? How low will Bitcoin price falls further today?