Limited opportunities andcreating a sense of urgency and the fear of missing out is an evergreenmarketing strategy in the cryptocurrency market.

With increasing hash rate, theprice of cryptocurrency is all set to go high. The overall appeal and awareness about cryptocurrencies, in general, islikely to lead cryptocurrency to a record high price.

Max Keiser recently tweeted,“It’s built into the protocol’s genesis block that eventually a heavyweight like$fb would take on BTC. This increased awareness and appeal to would-bepotentates will, of course, drive the hash rate to new highs, leading to newATH for BTC price. Zuck is Satoshi's useful idiot.”

The hash rate of Bitcoin isslightly above 60,036,687TH/s according to recent statistics. With the increased hash rate, the miningdifficulty also increases. Therefore,fewer Bitcoins are mined, and the price of the Bitcoin goes up.

Barry Silbert states that Librais at par with the internet browser Netscape. Libra, according to Silbert, will catalyze Bitcoin adoption.

Caitlin, cryptocurrency advocateopines that Libra will have a Bullish effect on the price of Bitcoin. Librawill likely expose the 'unfairness & instability of current monetary &payment systems.’ He believes that the users will turn to Bitcoin and Librawhen they realize the concepts and details of supply.

Libra is expected to be bullishfor the price of Bitcoin price.

Lee stated that being amainstream giant, the cryptocurrency efforts of Facebook will help tolegitimize the overall cryptocurrency industry. He denied that Libra and Bitcoin were competing with each other, ratherhe stated that they were complementary to each other.

Bitcoin is one of thebest-performing assets of this year as the price of the Bitcoin has gone up bynearly 60% this year. It was previouslytrending in the $5,300 and $5,450 ranges. The current psychological level for Bitcoin is seen at $9,000.

Uncontrollable hyperinflation hasled to widespread adoption of cryptocurrency. Citizens from troubled economies are willing to consider cryptocurrencyas an alternative method of preserving value. The tendency to explore cryptocurrency is more in disturbed countiesthan in thriving nations.

The government is all raisedeyebrows about cryptocurrency scams. David Marcus, the blockchain Executive ofFacebook, is all set to testify. We are yet to witness if this is going to be aworthwhile exercise, which will reveal more information about how Facebook willbe managing the information gathered. Some believe that it might be an embarrassing situation of a politicalgrandstanding.