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No, Bitcoin Did Not Drop Because of Fed’s Concerns with Facebook’s Libra

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Bitcoin and the aggregated crypto markets plummeted over the past day after BTC failed to stabilize in the $13,000 region and incurred a sudden influx of selling pressure that sent it spiraling downwards.

Naturally, the world was quick to try to pin this drop on some concrete event – rather than some technical reason – and the mainstream media’s narrative is now that the Fed’s recently pronounced concerns with Facebook’s Libra project sparked this selloff.

Fed Chairman Deems Libra as Dangerous Just Prior to Bitcoin Dropping Below $12,000 

At the time of writing, Bitcoin is trading down over 7% ...

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