One can never deny the fact that since the evolution of the crypto market, there has been gigantic resistance to it.
Truth be told, if the definite information is thought about, it can obviously be seen that there are a greater number of haters than supporters of digital currency.
All things considered, the entire issue of supporters and haters are indeed in the features as a result of the ongoing tweets by the U.S. President Donald Trump.
Officially published on 11th of July at around 8:15 p.m, these tweets of Trump have come up as an unbending resistance to digital currencies. It was very obvious from the tweets that Donald was targeting the whole crypto market while referring to Bitcoin just as Libra explicitly.
TWEETS OF THE PRESIDENT
“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 behavior, including drug trade and other illegal activities.
“Similarly, Facebook Libra’s ‘virtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both Nationa and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!”
WHY SUCH TWEETS?
Honestly, the whole crypto market is still in a profound situation as it can’t generally figure the precise purpose for these unexpected tweets by the President.
Be that as it may, according to the perceptions, it was discovered that these tweets were formally distributed during the evening of the Social Media Summit.
While most of the populace is perhaps unaware of it, this summit might be viewed as a secret conference that brings into consideration the issues of Social Media.
As far as the present scenario is concerned, the market dubiously assumes that this conference might be the reason that has embedded the whole thought of Facebook crypto issues.
Some even contend that the approaching congressional hearings of Facebook’s Libra may likewise have wound up moving Trump for composing regarding this matter.
Be that as it may, the real expectation still stays unrevealed.