Too Early to Read out the Fate of Facebook’s Libra

By dan saada October 12, 2019 0
libra facebook

Every payment company that agreed to work with Facebook’s Libra is now backing out.  This is indeed a major blow to Facebook’s plans for Libra.  However, Facebook has stated that the exits would not affect the success of the product.

Dante Disparte, head of policy and communications for Libra Association, stated, “Although the constituent association members might vary and grow with time, the design principle of Libra’s governance and technology, along with the open nature of this project ensures the Libra payment network will remain resilient.”

It is too early to read out the Fate of Facebook’s Libra, considering these companies leaving out.  On October 23, 2019, Mark Zuckerberg is all set to testify.

Successful risk management plans concerning cryptocurrencies are about making small and big profits to break even and sometimes lose – without chasing the losses.

A cryptocurrency trader must identify those habits which are forcing them to lose out and those habits which are guiding one to profit.

It is essential to remove the psychological aspect of trading depending on the sole information before a trader, like a price, news, trend, and volume.

Markets that are driven by fear and greed are technically poor choices, and they might not put too much on the table.

The volatility factor in the cryptocurrency market, whether of the TCAT tokens or the ETH or the Bitcoin, can lead to significant losses in a seemingly perfect trade, and stop-loss features are perfect when it comes to controlling losses.

Buy and hold strategies are tempting to traders who are new to the industry, and it is seemingly simple, and many times is falsely associated with bringing down one’s risk in the investment process.  There are likely to be significant risks despite playing too safe.

There was a massive sell-off on Friday, and despite that, Bitcoin stood above $8,000.  Ethereum stayed lower towards $180, and it was getting rejected at $200.  XRP from Ripple is continuing to close higher.

The Swedish Government has offered $37,000 worth of BTC to the Public.   

Kronofogden, the Swedish Enforcement Authority, stated, “There is no infrastructure that meets our requirements,” as being the reason for auctioning the cryptocurrency without exchanging it within themselves.

The authority stated that they had to do it in a quality assured way to ensure that no money was lost in the process.

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