Bitcoin Down as Trump Critisises Crypto
15.07.2019, 07:09

Bitcoin Down as Trump Critisises Crypto

The tumble of Bitcoin to as low as $9,872 over the weekend is said to be a result of a tweet by President Trump on Friday, according to CNBC. The tweet read “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 Crypto Assets can facilitate unlawful behaviour, including drug trade and other illegal activity.”

Bitcoin is the most valuable virtual currency in the world, and it dropped by ten percent to $10,175, according to CoinDesk data. At some point, it even fell below $10,000 to its lowest level.

The CEO of the digital currency exchange Coinbase, Brian Armstrong also used Twitter to comment on Trump’s social media post by saying “achievement unlocked! I dreamt about a sitting U.S president needing to respond to growing cryptocurrency usage years ago.”

Bitcoin was not the only cryptocurrency Trump was critical of, he also said that in order for Facebook to launch its own cryptocurrency, Libra, it should apply for a banking license if it seeks to become a bank. 

Even though Bitcoin fell considerably over the weekend, it is still up by more than 160 percent since the start of the year, CNBC reported. This rise may be due to the hype around big corporations, like Facebook, showing interest in the virtual currency. 


Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.



Symbol Bid Ask Time

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location