Many best cryptocurrency news sites are featuring the statement of Donald Trump and how it was directed to Bitcoin. However, in other news, analysts are asking themselves “did Trump make Bitcoin a 2020 election issue?”
Trump branded Bitcoin and other cryptocurrencies as “unregulated assets” which are “based on thin air” as he said. However, the Bitcoin price rose slightly following his comments as Bitcoin traders and investors bet that the president’s acknowledgment of Bitcoin will bring greater awareness of crypto too.
So – did Trump actually help Bitcoin in this case?
Well, he has definitely catapulted the major cryptocurrency and other cryptocurrencies into a presidential issue. What’s more valuable is the fact that he gave valuable recognition to the burgeoning Bitcoin technology with some 2020 US presidential election plans already designed by Bitcoin and cryptocurrency fans.
“Possibly the largest bull signal for [bitcoin] ever,” said Jeremy Allaireo Twitter, the head of the Bitcoin/crypto exchange and payments group, Jeremy Allaire. “Crypto now a presidential/global policy issue. People everywhere will embrace a mix of sovereign and non-sovereign digital currency.”
The Bitcoin and cryptocurrency community is also asking themselves “did Trump increase the hope in Bitcoin” as they are ready to embrace a new bull run by the most dominant cryptocurrency. Many people took Trump’s tweets as an endorsement of Bitcoin and the underlying blockchain technology.
“Achievement unlocked! I dreamt about a sitting U.S. president needing to respond to growing cryptocurrency usage years ago,” Coinbase chief executive Brian Armstrong tweeted in the latest altcoin news. “‘First they ignore you, then they laugh at you, then they fight you, then you win.’ We just made it to step three y’all.”
Again, did Donald Trump push the BTC price higher?
The market is not sure about that – but there are many market watchers who think that there will be a positive boost from Trump giving Bitcoin and crypto airtime.
“Even though Donald says he’s not a fan of bitcoin, the fact that he’s mentioning it at all is hugely bullish for the entire crypto market,” wrote Mati Greenspan, senior market analyst at eToro.
Now that Trump has made Bitcoin a valid issue, there is nothing stopping the major cryptocurrency from pushing forward and becoming a bigger part of many campaigns
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]