After crypto summit
Bitcoin sags – behind it is disappointment with Trump
The Bitcoin course tilts. The expectations of the crypto summit oriented by Donald Trump were not met. This is behind it that investors are now turning away.
The US government announced the creation of a strategic Bitcoin reserve on Thursday. According to this, around 200,000 Bitcoin, which were confiscated by the US judiciary, should initially be included. However, the crypto industry expected other concrete steps, such as the active purchase of Bitcoin for the reserve.
Trump had emphasized support for Bitcoin
“Market participants reacted disappointed, since many had hoped that the US government would soon be actively entering the market and buying bitcoins,” said Marcel Heinrichsmeier, crypto analyst at DZ Bank. “Nevertheless, these developments are structurally positive for the crypto market because the industry in the United States plays an increasingly important role.” Trump had again emphasized his support for the industry at the crypto summit.
In the short perspective, the cryptocurrency market “remains under pressure due to regulatory uncertainties and a broader risk aversion from investors,” said Naeem Aslam, analyst at Zaye Capital. The often chaotic announcements by the US President in the field of trade policy unsettled the markets, so that secure systems become more attractive.
AFP
ATS
Source: Stern
