At 23:05 UTC on Monday (June 1), 15 minutes after President Donald Trump finished explaining (during a speech in the White House) how he intends to stop the ongoing riots, the price of Bitcoin for the first time since May 7 over USD 10,000. This is not the first time that the words of the US president affect the cryptocurrency exchange rate.
Donald Trump goes to war
There are riots in the United States that began after the death of George Floyd.
“All Americans are rightly outraged (…) by the death of George Floyd … But we must not allow legitimate cries and peaceful protesters to be drowned out by an angry crowd.”
– noticed the US president.
“The greatest victims of the unrest are peace-loving citizens (…). I will fight for your protection. I am president and ally of protesters in a peaceful way “
He added that there are riots in the US “Anarchists, violent crowds, arsonists, robbers, criminals, Antifa.”
“That’s why, like the president, I take immediate action to stop violence and restore security in the US. I mobilize all available federal resources – civil and military – to stop riots and plunder. “
President Trump ended his speech at 22:50 UTC, when the sharp rise in BTC prices began. The rate rose above USD 10,000 about 15 minutes after the President’s speech.
Fall in summer 2019 is Trump’s fault
Almost equal a year ago, in July 2019, a similar phenomenon occurred. On July 13 and 14, the price of Bitcoin fell by 15% and July 15 tested levels below $ 10,000, then the lowest since the beginning of the month. According to Bloomberg, Donald Trump was the culprit, who criticized the cryptocurrency market in reference to Facebook’s ideas about Libra.
He announced on Twitter that “Does not belong to Bitcoin fans and other cryptocurrencies that are not money and whose value is highly variable, based on weak foundations.” He added that digital currencies serve terrorists and criminals.
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