By CCN Markets: Bitcoin is up more than 151 percent against the U.S. dollar year-to-date at $9,300, surpassing most assets and stock indices in the likes of Nasdaq 100 and S&P 500 with ease in six-month performance.
The bitcoin price is up nearly $1,200 in the past week (source: coinmarketcap.com)
With the block reward halving of bitcoin on the horizon and the inflow of institutional capital consistently on the rise, the sentiment around the crypto market remains positive.
Why this trader says Libra will not negatively affect bitcoin
Libra, a crypto asset developed by the Libra Association, a consortium based in Switzerland founded by major conglomerates including Facebook, Visa, Mastercard, Lyft, Uber, Booking Holdings, and more, dominated the headlines in the financial sector in the past two days.
Some analysts have suggested that the release of Libra, planned for 2020, may lead to the decline in demand for existing crypto assets such as bitcoin and ether, the native cryptocurrency of Ethereum.