1 year and 5 months ago, in the last week of January, the giant social media company, Facebook, started a campaign that many still believe was the catalyst that led to the 2018 cryptocurrency bear market.
Source: www.calibra.com
Facebook did a blanket ban on cryptocurrencies, forbidding the advertisement of the asset on its main website.
Since then, the crypto asset moved 70% down, from a high of $19,500 to a low of $3200, before bouncing back up over the last 5 months to a stable level of $9200.
The rise of cause, has been fueled by tech companies coming into the crypto space, the latest of which is Facebook themselves.
From Google, to Microsoft, to HTC and Samsung, a lot of tech driven companies have started moving to utilize the components of blockchain technology. The underlying technology and the transcontinental potential it has.
Libra- the gateway to the crypto economy
It seems almost like a movie playing out according to an already written script. Facebook, the company that did so much damage just a year ago, now one of the forerunners for the adoption of cryptocurrency.
This is an indirect side effect of being among the top 5 tech company in the world. While the intentions of Facebook wasn't probably to push for more crypto adoption worldwide, their mere presence in the crypto space has caused a massive knowledge search by.....