Will Bitcoin stop crashing in the coming weeks?
Bitcoin Has Taken Several Hits Lately
This is likely a question on several crypto enthusiasts’ minds, as the granddaddy of all crypto can’t seem to stop falling further down the financial ladder. At press time, the crypto unit is trading for just over $9,400 – the lowest it’s been in several weeks.
What the heck happened? Just last month the bitcoin price was at a whopping $13,600. What would make it fall so easily?
As Live Bitcoin News has covered recently, U.S. President Donald Trump had a few unflattering things to say about bitcoin and its crypto counterparts, claiming that they weren’t “real money” and that their values were based on “thin air.” It appears bitcoin hasn’t established as thick a skin as we originally thought, though to be fair, it’s likely the currency would have taken a harsher lashing from words like these three or even two years ago.
In addition, controversy continues to surround Facebook’s Libra currency. The competing unit – which David Marcus and his team allege will be a stable currency – has been hit left and right by members of Congress who claim the currency isn’t safe and want more information before the company can continue its development plans. For now, it looks like Libra is going to be delayed at least another two years until they get their answers.