Forbes Analyst: Facebook’s Cryptocurrency Could Push Bitcoin (BTC) to $10,000


Despite disdain from much of the existing crypto community, excitement and anticipation are starting to build around Facebook’s (FB) payment platform as the company plans to unveil its cryptocurrency later this month.

According to a Wednesday¬†report¬†in The Information, Facebook is planning to present its new stablecoin, “Globalcoin,” and its whitepaper during a June 18 announcement event.

As a result of the major event, Forbes market analyst Naeem Aslam believes Bitcoin (BTC) will retest recent highs and surge to $10,000 within the month.

“To conclude, I am optimistic about the Bitcoin price during this month and I believe the Facebook event will be the catalyst for the Bitcoin price to move higher,” stated Aslam. “Facebook has to make sure that it has nailed all the loose ends because it really is a double edge sword. Any mess up by the firm is going to leave a big dent in the crypto space.”

As we previously reported, the upcoming Globalcoin launch has generated excitement for one existing cryptocurrency in particular: Zilliqa (ZIL).

The core of the speculation is driven by the fact that Zilliqa Day 2019 lands on June 18 this year, the same date as the Facebook announcement. Add to that the fact that Evan Cheng, the current head of blockchain at Facebook, is an advisor of Zilliqa, and the rumor gains a bit more credence.

At present, Bitcoin is down 2% on the day to $7,841, giving the largest digital currency a $139.2 billion market cap. A move to $10,000 would represent a roughly 26% gain.

More: Why June Is A Good Month For Bitcoin

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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