News :
Key Takeaways
- The announcement of Celo Network earlier this year marked the first true rival for Facebook's Libra.
- a16z believes more competitors could emerge, putting stress on Libra, forcing regulators to take action.
- Libra's failure thus far stems from Facebook's scandalous past and its initial plan of introducing a new currency.
- The winner of this race will likely be the one that operates without threatening the state's monopoly over the monetary system.
Technical analysis:
BTC has been trading aggressively to the upside. The price tested the level of $10,400 but it did that on the ultra high volume and very wide spread of the candle, which represents climatic action and potential for the downside rotation.
Trading recommendation:
