{"id":386604,"date":"2019-06-18T22:00:55","date_gmt":"2019-06-18T22:00:55","guid":{"rendered":"https:\/\/wncen.com\/?p=386604"},"modified":"2024-06-11T13:44:19","modified_gmt":"2024-06-11T13:44:19","slug":"analyst-facebooks-libra-could-introduce-billions-of-people-to-bitcoin-will-it-help-fuel-the-next-rally","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analyst-facebooks-libra-could-introduce-billions-of-people-to-bitcoin-will-it-help-fuel-the-next-rally\/","title":{"rendered":"Analyst: Facebook\u2019s Libra Could Introduce Billions of People to Bitcoin; Will It Help Fuel the Next Rally?"},"content":{"rendered":"<p>Earlier today the world gained insight into Facebook\u2019s highly anticipated cryptocurrency project, dubbed Libra, which is widely expected to help boost the company\u2019s e-commerce initiatives and to attract a significant amount of attention to Bitcoin and the crypto markets.<\/p>\n<p>Now, multiple cryptocurrency analysts are viewing Libra as a <a href=\"https:\/\/wncen.com\/2019\/06\/16\/crypto-ceo-launch-of-facebook-libra-could-boost-bitcoin-btc-past-10000\/\">bullish development<\/a> for Bitcoin and the aggregated crypto markets, as it could lead to an influx of new users that fuel the next big rally.<\/p>\n<h2><strong>Libra Could Introduce Billions of People to Bitcoin<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>The crypto community was quite surprised to learn the breadth and magnitude of the partnerships that Facebook has secured for Libra, with some of the major names on the list including Visa, Mastercard, Uber, PayPal, eBay, Spotify, and many others.<\/p>\n<p>Although details regarding how user\u2019s will acquire Libra remain foggy, Facebook did <a href=\"http:\/\/fortune.com\/2019\/06\/18\/facebook-project-libra-cryptocurrency-fb-coin\/\" rel=\"nofollow\">suggest<\/a> that it will first be distributed on WhatsApp and Messenger \u2013 two of the company\u2019s communication applications \u2013 sometime next year.<\/p>\n<p>Libra will operate similarly to <a href=\"https:\/\/wncen.com\/2019\/06\/17\/long-term-charts-put-bitcoin-price-at-for-11400-local-top-60k-bull-cycle-top\/\">Bitcoin<\/a> and most other cryptocurrencies, as users will download a wallet, called Calibra that will allow users to store and transact with their Libra. Ultimately, Libra will enable users to make purchases on several of Facebook\u2019s e-commerce channels and will be able to be used on many other non-Facebook platforms as well.<\/p>\n<p>The sheer amount of use-cases for Libra that already exist ahead of its launch has led many analysts to believe that it will ultimately be a bullish thing for Bitcoin, as it will introduce billions of users to the world of crypto.<\/p>\n<blockquote><p>\u201cLibra will introduce more users to Bitcoin than any other coin before. 2.6 billion that are one step closer to learning about, buying, and understanding $BTC. Thanks Zuck!\u201d Luke Martin, a popular analyst on Twitter, explained in a recent tweet.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Libra will introduce more users to Bitcoin than any other coin before. <\/p>\n<p>2.6 bullion that are one step closer to learning about, buying, and understanding <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a>. <\/p>\n<p>Thanks Zuck! <a href=\"https:\/\/t.co\/TcuX7TgodY\" rel=\"nofollow\">https:\/\/t.co\/TcuX7TgodY<\/a><\/p>\n<p>&mdash; Luke Martin (@VentureCoinist) <a href=\"https:\/\/twitter.com\/VentureCoinist\/status\/99786754?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 17, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><strong>Will Influx of New Users Fuel the Next Bull Run?<\/strong><\/h2>\n<p>Assuming that Libra does direct a significant number of users to Bitcoin and other cryptocurrencies, these users could act as kindling that helps fuel the next massive bull run.<\/p>\n<p>Galaxy, a popular cryptocurrency analyst on Twitter, recently explained that Bitcoin could surge to $62,000 in the coming months based on a historical analysis. Assuming that this incredibly optimistic outlook is even partially accurate, it will require a significant influx of funding to fuel it, which may be provided by new market participants who enter due to their interest in Libra.<\/p>\n<blockquote><p>\u201cYear 2017 had a similar weekly candle set-up as the one today, which was followed by a 570% price increase over the next 147 days. Another similar price increase puts BTC price at \u2248$62K by the end of October 2019,\u201d Galaxy said.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Year 2017 had a similar weekly candle set-up as the one today, which was followed by a 570% price increase over the next 147 days. <\/p>\n<p>Another similar price increase puts BTC price at \u2248$62K by the end of October 2019. <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#bitcoin<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> <a href=\"https:\/\/t.co\/M7NkHthY2M\" rel=\"nofollow\">pic.twitter.com\/M7NkHthY2M<\/a><\/p>\n<p>&mdash; Galaxy (@galaxyBTC) <a href=\"https:\/\/twitter.com\/galaxyBTC\/status\/80997632?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 17, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As the world continues to gain more information about Libra and as we near its official launch date in 2020, it is highly likely that many who are interested in using the coin will also <a href=\"https:\/\/wncen.com\/2019\/05\/28\/retirees-do-not-see-legitimacy-in-bitcoin-will-mainstream-adoption-happen\/\">grow interested<\/a> in Bitcoin and other cryptocurrencies.<\/p>\n<pre>Featured image from Shutterstock.<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Earlier today the world gained insight into Facebook\u2019s highly anticipated cryptocurrency project, dubbed Libra, which is widely expected to help boost the company\u2019s e-commerce initiatives and to attract a significant amount of attention to Bitcoin and the crypto markets. Now, multiple cryptocurrency analysts are viewing Libra as a bullish development for Bitcoin and the aggregated crypto markets, as it could lead to an influx of new users that fuel the next big rally. Libra Could Introduce Billions of People to Bitcoin\u00a0 The crypto community was quite surprised to learn the breadth and magnitude of the partnerships that Facebook has secured for Libra, with some of the major names on the list including Visa, Mastercard, Uber, PayPal, eBay, Spotify, and many others. Although details regarding how user\u2019s will acquire Libra remain foggy, Facebook did suggest that it will first be distributed on WhatsApp and Messenger \u2013 two of the company\u2019s communication applications \u2013 sometime next year. Libra will operate similarly to Bitcoin and most other cryptocurrencies, as users will download a wallet, called Calibra that will allow users to store and transact with their Libra. Ultimately, Libra will enable users to make purchases on several of Facebook\u2019s e-commerce channels and will be able to be used on many other non-Facebook platforms as well. The sheer amount of use-cases for Libra that already exist ahead of its launch has led many analysts to believe that it will ultimately be a bullish thing for Bitcoin, as it will introduce billions of users to the world of crypto. \u201cLibra will introduce more users to Bitcoin than any other coin before. 2.6 billion that are one step closer to learning about, buying, and understanding $BTC. Thanks Zuck!\u201d Luke Martin, a popular analyst on Twitter, explained in a recent tweet. Libra will introduce more users to Bitcoin than any other coin before. 2.6 bullion that are one step closer to learning about, buying, and understanding $BTC. Thanks Zuck! https:\/\/t.co\/TcuX7TgodY &mdash; Luke Martin (@VentureCoinist) June 17, 2019 Will Influx of New Users Fuel the Next Bull Run? Assuming that Libra does direct a significant number of users to Bitcoin and other cryptocurrencies, these users could act as kindling that helps fuel the next massive bull run. Galaxy, a popular cryptocurrency analyst on Twitter, recently explained that Bitcoin could surge to $62,000 in the coming months based on a historical analysis. Assuming that this incredibly optimistic outlook is even partially accurate, it will require a significant influx of funding to fuel it, which may be provided by new market participants who enter due to their interest in Libra. \u201cYear 2017 had a similar weekly candle set-up as the one today, which was followed by a 570% price increase over the next 147 days. Another similar price increase puts BTC price at \u2248$62K by the end of October 2019,\u201d Galaxy said. Year 2017 had a similar weekly candle set-up as the one today, which was followed by a 570% price increase over the next 147 days. Another similar price increase puts BTC price at \u2248$62K by the end of October 2019. #bitcoin $BTC pic.twitter.com\/M7NkHthY2M &mdash; Galaxy (@galaxyBTC) June 17, 2019 As the world continues to gain more information about Libra and as we near its official launch date in 2020, it is highly likely that many who are interested in using the coin will also grow interested in Bitcoin and other cryptocurrencies. Featured image from Shutterstock.<\/p>\n","protected":false},"author":499,"featured_media":386606,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1119,6664],"class_list":["post-386604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btc","tag-crypto"],"acf":[],"yoast_head":"\n<title>Analyst: Facebook\u2019s Libra Could Introduce Billions of People to Bitcoin; Will It Help Fuel the Next Rally?<\/title>\n<meta name=\"description\" content=\"Crypto analysts are viewing Facebook&#039;s Libra as a bullish development for Bitcoin, as it could lead to an influx of new users that fuel the next big rally.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/analyst-facebooks-libra-could-introduce-billions-of-people-to-bitcoin-will-it-help-fuel-the-next-rally\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analyst: Facebook\u2019s Libra Could Introduce Billions of People to Bitcoin; Will It Help Fuel the Next Rally?\" \/>\n<meta property=\"og:description\" content=\"Crypto analysts are viewing Facebook&#039;s Libra as a bullish development for Bitcoin, as it could lead to an influx of new users that fuel the next big rally.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/analyst-facebooks-libra-could-introduce-billions-of-people-to-bitcoin-will-it-help-fuel-the-next-rally\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-18T22:00:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:44:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/shutterstock_1393780241.jpg?fit=1000%2C667\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Cole Petersen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cole Petersen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/analyst-facebooks-libra-could-introduce-billions-of-people-to-bitcoin-will-it-help-fuel-the-next-rally\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/analyst-facebooks-libra-could-introduce-billions-of-people-to-bitcoin-will-it-help-fuel-the-next-rally\/\"},\"author\":{\"name\":\"Cole Petersen\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/6c4271c7295c2e60c3c46d945f26fd87\"},\"headline\":\"Analyst: Facebook\u2019s Libra Could Introduce Billions of People to Bitcoin; 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