Bitcoin enters the news again as the president of the United States Donald Trump declared Bitcoin and other cryptocurrencies unregulated assets that could be used to foster criminal activities and drug trafficking. President Donald Trump made this comment on Twitter where he said that he wasn’t a fan of cryptocurrencies, including Bitcoin. He further commented that cryptocurrencies were not real money; they were very volatile and had no real value.
The price of Bitcoin has oscillated over the years, it rose from less than$1,000 to close to $20,000 in 2017 and then fell to about $3,000 in that same year. In June 2019, Bitcoin swung back up to $8,000 and reached an all-time year high of over $13,000. Though the price of Bitcoin dipped below $12,000, it has continued to remain steady above the $10,000 mark. There has been a Bitcoin price prediction that favors the price of Bitcoin rising to $30,000 mark before the end of the year.
Bitcoin News Today – Bitcoin Price Prediction 2019 – Bitcoin Latest Update – Cryptocurrency Fears That Will Not Go Away Soon
Also under attack by President Trump was Facebook cryptocurrency Libra. President Trump declared that Facebook Libra would have little standing and that Facebook would have to face all the banking regulations if Facebook wanted to become a bank. President Trump praised the US dollar, declaring it the most dominant currency in the world and unlike cryptocurrency, was both dependable and reliable.
Bitcoin (BTC) Price Today – BTC / USD
Supporting President Trump’s stand on cryptocurrency, Jerome Powell, the head of the federal reserve of the United States, frowned on Facebook’s plan to join the cryptocurrency market. Powell declared that such a move would raise many concerns. Bitcoin news today learned that Powell’s stand on cryptocurrency may have had a hand on the slight dip in the price value of Bitcoin BTC. The price fell from$13,000 to below $12,000.
Powell warned that Facebook’s move to join the crypto market raised serious issues like money laundering, consumer protection, and privacy issues. Powell’s thinking came from the fact that Facebook was a social media network with over 2 billion users. These users would be a huge target to get into the crypto market and Powell felt that their interest would have to be protected.
There may be some light ahead as some members of the US government do not share the sentiments of the US president and the head of the US federal reserves. Some believe that cryptocurrency is the answer to traditional financial institutions. In response to President Trump’s comments about Bitcoin, Mike Cernovich believed that Bitcoin was the way forward and that President Trump only lacked vision.
Bitcoin News Today – Bitcoin Price Prediction 2019 – Bitcoin Soars Amid Federal Opposition
Regardless of the reservations of the US president and the head of the federal bank reserve of the US, the price of Bitcoin holds steady at under $12,000. Bitcoin seems immune to the criticism of external institutions and government bodies. Bitcoin saw an upside correction which was above the $11,200 level and broke the Fib 50% retracement level.
Following the volatile nature of Bitcoin, analysts are now making Bitcoin price prediction of over $13,000 in the soon coming spike being foretold. They believe that the next stable level will see the price of Bitcoin BTC in the range of $17,000 to $20,000 before the year runs out. This, they believed was in preparation of the halving event coming in May 2020.
This content was originally published here.