Bitcoin is down after Trump’s comments on cryptocurrencies

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According to CoinDesk data, the most virtual currency in the World bitcoin has been down about 13% up to $10,175.

The reason of its downward effect remains unclear. It can be noticed that it happened immediately after Trump’s remarks last week, saying that he was “not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.

Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity,” Trump added.

The US President convicted Facebook intentions on cryptocurrency projects Libra that would be attached to the basket of currencies under the government and would be served as a stability value support. Trump pointed out that Facebook must apply for a bank license it plans to turn out in a bank.

Some of crypto-conscious people did not pay attention to Trump’s comments. Brian Armstrong, CEO of the digital currency exchange Coinbase, considered a crypto as an “achievement,” while Fundstrat Global Advisors’ Tom Lee called it “positive because cryptocurrencies and bitcoin really are in the main stage now.”


Natalia Veselnitskaya – official website

Natalia Veselnitskaya
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