Press "Enter" to skip to content

The rise in BTC reveals a different picture of Libra and China’s digital Yuan


Crypto money in the world for the last two weeks brings to mind all kinds of question marks. While we are trying to investigate the factors that cause declines and outflows, we are confronted with the fact that there may be very different dynamics behind the crypto issue.

There are different reasons for Bitcoin to go down to $ 7,500 and up to $ 10,600. However, the Libra debates and the statements of the Chinese President reveal a different picture.

Discussion about Libra

The debates that began with the Libra since mid-June put the cryptocurrency world at the center of the regulatory atmosphere. Bitcoin and cryptos are now on the agenda of almost every president.

Facebook CEO- Mark Zuckerberg answered questions of regulatory concern at a session that lasted about 7 hours at the Congress, where he was called to meet the other day. The focus of the speech was Zuckerberg’s emphasis on China filling the gap if Libra was blocked.

Last situation encountered

There was an increase in Bitcoin and other cryptocurrencies yesterday and the reason is unclear. China’s President- Xi Jinping’s statements and different reasons were cited as the reason for the rise.

However, what one must emphasize is that when the Libra’s comments and President of China’s statements are evaluated, what appears in the whole picture is as follows: Libra and an American who stands against the crypto coins, prepared China to declare its own digital Yuan.

Looking at yesterday’s rise from this front also means that at least the cryptos will be an effective tool in the inter-state struggle. Behind the scenes of this stealthy struggle, it is necessary to think in which direction the cryptos can evolve.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.