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Saturday, 25 June 00:33 (GMT -05:00)

Business And Politics News

Donald Trump Influences Bitcoin Exchange Rate

Shortly after President Trump finished explaining how he was going to depress the ongoing riots in the United States, the BTC exchange rate exceeded the 10K threshold for the first time since May 7th. It's interesting to note that this is note the first time Trump's speech is affecting the exchange rate of the world first cryptocurrency.
Donald Trump Declares War On Anarchists
As you probably know, the current riots started after George Floyd's death. Apparently, President Trump was indignant at the incident as well. However, he believes that they cannot let the crowd in rage destroy everything around them. He is convinced that the biggest victims of the riots are peaceful people, which is something that should not be the case. He also an advocate and defender of peaceful protests. 
At the same time, he is also convinced that the riots were started by anarchists, robbers, criminals, and Antifa. Basically that is why he says he has been doing his best to restore the security and depress the violence in the United States, even if it requires mobilizing all kinds of resources, including the military ones.
Basically, it was his speech that made the BTC exchange rate increase all the way up to 10000 dollars per coin and even higher. And it happened roughly 15 minutes after Donald Trump eded his speech.
Summer 2019 and Trump's Fault
Around a year ago, in July 2019, we could witness a similar event. On July 13th and 14th, Bitcoin dropped by 15% and the next day the price tested the 10000 threshold trying to move below it. it was the lowest point of the month. International experts say that it was Donald Trump who triggered this plunge by criticizing Facebook's Libra.
In particular, back then, he shared his posit on Twitter, saying that he was not a fan of Bitcoin and other cryptocurrencies because those were fake money, helping with financing terrorists and other criminals, not to mention their weak foundation.


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