PayPal withdraws from Libra, Bitcoin best performing asset of 2019 and Bitcoin is trading around 7.900 USD
Here is your daily overview of important, interesting and market moving crypto news.
PayPal withdraws from Facebook-led Libra crypto project
PayPal has withdrawn from the Libra Association, the company announced Friday.
The project was met with immediate regulatory backlash, with policymakers in multiple countries claiming that Facebook might run the risk of destabilizing the global monetary order.
Bitcoin is the best-performing asset of 2019
Even after Bitcoin’s recent price drop, it is still the best performing asset of 2019:
- Bitcoin’s price has more than doubled in 2019, far outpacing the 31 percent return for U.S. tech stocks, which Goldman Sachs deems the best-performing asset class.
- Outsize returns could attract interest from big investors in the yield-starved traditional financial markets.
- Data firm Messari say Bitcoin’s price could rally to a new high in the year’s remaining months, topping the $12,902 level reached in June.
Bitcoin drops below 8.000 USD again
Bitcoin touched 8.240 USD last Friday, before it fell down below 7.800 USD Saturday at midnight.
Bitcoin is currently trading around 7.900 USD.
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