Tweet Trump trading. The United States guilty of recent declines on BTC?

Tweet Trump Trading - is the US President responsible for the recent dips on Bitcoinie? The June results on the Forex market volume were not amazing, what we wrote in a separate article. They also translated into stock exchanges related to the digital asset exchange industry. Looking at the two trading days of the week, we could see some significant moves, mainly on indices and Bitcoin.

Interestingly, strong, declining movements on cryptocurrencies were probably caused by Trump's last statements. The president did not hide his hostile attitude towards digital assets. In his last speech, Trump emphasized that Bitcoin is not based on any real data and is not money. 

Problems with Libra

Recent reports indicate that Pound it can have some problems. The democratic part of the US Finance Commission has prepared a bill that is to significantly influence the idea of ​​Facebook. Keep Big Tech Out Of Finance Act - that's the name of the new proposed regulations (in translation - keep tech giants away from finance). The main problem that legislators see in the Libra draft is the fact that Facebook, as a large company with a social platform, cannot maintain, run, create and operate digital value carriers.

What's more, the report reads:

"Digital assets are to be widely used as an exchange medium, unit of account, value warehouse or other similar function, consistent with the definition of the Council of Governors of Federal Reserve Systems."

High punishment

If the act were to enter into force, Facebook would be punished. More specifically, he would pay 1 million USD every day. Recent reports from the president of the social networking site suggest that Libra is to be regulated by the Swiss financial supervision authority. On the horizon, there is no change of position in the American administration so far. Is therefore the last very mixed moods that have developed around cryptocurrency so weakened their leading representative?

Bitcoin chart, H4 interval. Source: xNUMX XTB xStation

Trump does not help

The President of the United States is further fueling the situation with statements regarding cryptocurrencies. One can get the impression that he is one of the people who would be happy to sign the bill. In recent days, the President of the US stressed in his speech that he is not a supporter of cryptocurrencies and in his understanding they are not money.