What If Trump Bans Bitcoin? Will Bitcoin Survive A Ban By Donald Trump?

Bitcoin has had a very busy month. The number one coin in the cryptocurrency market took a dive over the weekend. A bitcoin price analysis of the last month would show a graph with valleys and cliffs. Bitcoin rose early last month with 54% to gain over $4,000 in a week. The next 5 days after that saw bitcoin BTC drop by 29%. The coin gained 21% over the next 24 hours. This pattern continued as it rose and dropped in price until it remained steady at about $12,000. It acquired an all-time year high of $13,000 but could not remain at that level. The present price of bitcoin BTC is just below $10,000. There is over 17 million BTC coin in circulation and BTC has a market cap of over $170 billion. Its 24-hour volume was at $24.5 billion.

Bitcoin News Today – Bitcoin Price Prediction – Bitcoin, Cryptocurrency And Donald Trump

Recently, bitcoin and cryptocurrency, in general, has been in the news. Bitcoin news today learned that there could be plans by the United States government to oppose the growth and acceptance of cryptocurrency. Last week, US President Donald Trump expressed his distaste for the cryptocurrency market in general and Bitcoin in particular. There were fears that Donald Trump’s opinion would influence the cryptocurrency market but the reverse seemed to be the case.

In a strange twist of fate, the price for almost every top player in the cryptocurrency market dropped the following week. Some dropping with as much as 50%. This has made analysts and researchers wonder if the cryptocurrency market can be influenced by government institutions. Bitcoin news update learned that the buzz in the cryptocurrency world was on if the US President, Donald Trump could ban bitcoin or the cryptocurrency market.

Bitcoin News Today – Bitcoin Latest Update – Cryptocurrency News Today – Bitcoin And Cryptocurrency Are Here To Stay

Economist Alex Krueger wrote on Twitter that there may be a price crash if president Donald Trump banned bitcoin. He further explained that he didn’t see that coming to pass as he didn’t see the law allowing the President to do so. Bitcoin news update learned that Alex Krueger also theorized on how the president could weaken the cryptocurrency market by targeting institutional investors and forbidding financial institutions from transacting with crypto banks. The US president could also make things difficult for the cryptocurrency market by imposing stringent laws that would be almost impossible for the crypto banks to fulfill. In reality, though, Alex Krueger explained that it would be very difficult for the president to ban cryptocurrency as he would need Congress on his side and Alex Krueger didn’t see that happening.

Bitcoin (BTC) Price Today – BTC / USD

Name Price
bitcoin
Bitcoin
$10,711.000.216%

Economic researchers predict a Bitcoin price prediction that is bullish as the price of bitcoin is expected to rise. The BTC is expected to increase to $15,000 by the end of the year. The resistance level will be at $11,059 and $11,863, while the supporting levels will be $9,843 and $9,430. Bitcoin price analysis shows that though the BTC may have experienced a setback, bitcoin will certainly rise back and even flourish. Investors hoping to maximize profits may have to wait for the BTC to stabilize.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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