RE: The Donald didn't want to be left out!
He said other cryptocurrencies. So he knows there are other cryptos. Most people only know about Bitchcoin. He probably tried to buy some and they told him that he needs actual money to buy them.
This was a big deal because much of recent bullish momentum in crypto was due to Facebook announcing that they were launching their own coin, Libra.
No it wasn't. It had nothing to do with them. That was just the excuse articles used...just like they always come up with some dumb excuse why the market is moving this way or that.
Some people might invest in Bitcoin because of some crazy idea that Libra, which isn't even real crypto, would possibly cause the price to rise...though it was an incredibly safe bet at the prices it was at. I seriously doubt that them working on a crypto project caused that rise though...especially since it started before the announcement. In fact, it started on April Fools...right after YouTube's biggest crypto analyst DataDash said it was set for a big move. It totally was at the time...just needed a nudge. I would sooner believe he was responsible than Facebook. SEC also postponed their ETF decision.
A bunch of shit happened that day in crypto. You can pick one at random and make a compelling case of why that caused the spike.
Every day there's always a ton of awesome and horrible news about crypto. It rarely moves on it.
And any idiot that dumps BTC during a rally because Toadstool says so doesn't deserve a Lambo.
It absolutely was part of the reason for the bullish momentum. Whether you like the news or not, Facebook launching a pegged currency was just about the most bullish news crypto could get. It would introduce potentially 2 billion people to crypto. Not only that but this coin wouldn't compete with existing coins, only stable/pegged coins. Not to mention the validation it gives bitcoin/crypto. There aren't many other ways to introduce bitcoin/crypto to 2 billion people basically all at once. Libra was going to be a major on-boarding tool for bitcoin. It literally is some of the most bullish news crypto could have. The reason price ran up was because people were speculating how good this would be bitcoin. There were other contributing factors to the price rice, such as historical halving price cycles, seasonality, QE being back on the table, and trade wars to name a few... but make no mistake the news from Facebook was a major driving force behind the recent price action in bitcoin.