The year-to-date gains for Bitcoin (BTC) as the most dominant cryptocurrency out there are on the rise, the latest cryptocurrency news show. In fact, the Bitcoin YTD gains are now at more than 151% against the US dollar at $9,300, surpassing a lot of assets and stock indices such as Nasdaq 100 and S&P 500 with ease in its six-month performance.
With the block reward halving of Bitcoin which is on the horizon soon – as well as the inflow of institutional capital that is still on the rise – the sentiment around the Bitcoin YTD gains and the overall crypto market remains positive.
Libra, which is the cryptocurrency asset developed by the Libra Association (a consortium based in Switzerland) founded by major conglomerates such as Facebook, Visa, Mastercard, Lyft, Uber, Booking Holdings and more, all dominating the headlines in the financial sector over the past two days.
A lot of analysts are in the altcoin news for suggesting that the release of Libra, which is planned for 2020, may lead to a decline in demand for existing crypto assets such as Bitcoin and Ether, which is the native cryptocurrency of Ethereum. Still, industry executives and traders believe that the Bitcoin YTD gains could extend mainly because of Libra and its catalyst to boost mainstream interest towards the asset class.
The CEO of DCG, Barry Silbert, recently noted:
“The launch of Facebook’s cryptocurrency will go down in history as the catalyst that propelled digital assets (including bitcoin) to mass global consumer adoption. Will be remembered as just as important — and transformative — as the launch of the Netscape browser. Buckle up.”
Another crypto trader and real estate developer known as Satoshi Flipper noted that Libra will not replace Bitcoin nor compete against it in the same market.
“Once Libra goes live, nobody outside of the Facebook platform will care much for it. It’s another stable coin and it’s not replacing BTC. It will work in a centralized ecosystem. But it will bring awareness to BTC and altcoins. And I’m excited about the network effect it will have,” he said.
One of the Winklevoss twins, Tyler Winklevoss, has also predicted a Bitcoin YTD gains, stating the possibility for Bitcoin to break through even more in the near future.
If bitcoin breaks 10k, you can bet it’s going to break 15k…👍🏻🚀
— Tyler Winklevoss (@tylerwinklevoss) June 19, 2019
His statement went viral on many best cryptocurrency news sites.
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