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Is The Recent Price Drop In Bitcoin Caused By Trump’s Tweet About Crypto Currencies?

Bitcoin started moving steadily starting last month which brought joy to every crypto investor except for those who didn’t invest when the price was low around $3000.

The price of Bitcoin tumbled on Monday after President Trump made a tweet on Thursday saying he is ”not a fan” of cryptocurrencies and talked about Facebook’s Libra digital currency that’s set to launch next year.

Bitcoin price briefly hit below $10,000 just after midnight Monday. The price drop made The cryptocurrency appeared to rebound slightly to bring it past $10,000 as of Monday morning.

It’s unclear what caused the sudden price drop, but it comes just days after Trump took to Twitter to slam cryptocurrencies when he tweeted

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crytpo Assets can facilitate unlawful behaviour, including drug trade and other illegal activities’

Donald Trump tweet

Donald Trump tweet

Donald Trump tweet

So many people believe the recent dump in Bitcoin is caused by President Trump’s tweet talking about cryptocurrencies and Facebook’s coin which is yet to be launched.

So what do you think? do you also believe the recent dump was caused by Trump’s tweet?

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