U.S. Congress Shows Negative Attitude Towards Libra, Crypto Market Sees Moderate Gains Again And Litecoin Skyrockets- The Crypto2Cash Chronicle
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U.S. Congress Shows Negative Attitude Towards Libra
David Marcus, CEO of Calibra and Facebooks Libra project stood questions and answers in yesterdays hearing about Facebooks new cryptocurrency, in front of the U.S. Senate. It quickly showed, that the majority of the politicians were very skeptic about the new project. This can be linked to the controversy Facebook found itself in earlier this year, after selling user data to third parties. On top of that, many members of congress have long been critics of cryptocurrencies, calling them speculative, risky and “fake money”. The hearing was a large setback for the Libra project and it can not be expected that it will launch anytime soon, looking at the expected regulatory problems it will most likely face in the future.
Crypto Market Sees Moderate Gains Again
After showing larger losses over the last few days, the crypto market managed to slightly rebound in the last 24 hours. Bitcoin is up 3 percent and close to breaking the $10,000 mark, currently trading at $9,850. Most Alt-coins saw larger price gains ranging between 5 and 15 percent. The dominance of Bitcoin is still very high, currently sitting a little over 65 percent.
Litecoin Skyrockets
With it’s halving only 17 days away, the price of Litecoin skyrocketed today, showing a massive gain of over 15 percent. Litecoin has secured the place as fourth largest cryptocurrency by total market capitalization and is currently trading at $93, around the same price it was before the large price dip a few days back. It is usual for prices to go up before reward halvings and to go down after the halving happened, so it will be interesting to see if Litecoin also follows this pattern.
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