Post
Topic
Board Bitcoin Discussion
Re: Trump is tweeting about Bitcoin O.O thoughts?
by
jchi2210
on 12/07/2019, 17:14:23 UTC
Trump's tweets has not created a FUD but has increased BTC's price by a little. The news are calling it as the Trump Pump.

https://cointelegraph.com/news/trump-pump-bitcoin-price-buoyant-after-us-president-says-hes-not-a-fan

Also, I would like to say that predictions are not to be taken seriously. Predictions in crypto are just like guessing numbers.
The one who guesses it right is then praised by thousands.

I'm not entirely sure him tweeting about it raised the price. BTC has been trading in the same channel since April. As long as we hold above 10.2kish  then it stays inside that channel.  Sure he just introduced the word Bitcoin to 60 million people, but he also likely convinced half of his base that it is for criminals and the dark web. Bitcoin is going to have to get out of that category and that tweet isn't helping any. Normally I'd shrug it off and say "any press is good press" but that honestly isn't true, if bad press attracts new people then those aren't the people you want.