The soaring price of bitcoin was also driven by Facebook launching its own crypto currency called Libra. Analysts are optimistic that Libra can help the market to get a better position in the community, as a means of payment and investment.
I really don't understand why speculators are telling Bitcoiners that Libra coin is what brings the price to a sudden surge in the last two weeks. I mean I don't get any correlation whatsoever, do Facebook users suddenly jump on the Bitcoin bandwagon because of this supposedly Facebook coin?
Of course as Bitcoin is a speculative assets, the price is affected by the news around, but I have my doubts that we can attribute everything to Libra though. Bitcoin is on the recovery or accumulation phase, and regardless if there are positive or negative news, the price will continue to grow because we are in a mini-bull cycle already.