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The bitcoin and cryptocurrency world has been left reeling after US president Donald Trump unleashed a scathing attack on bitcoin and cryptocurrencies, branding them " unregulated crypto assets " and based on " thin air "
bitcoin price rose slightly following Trump's comments as bitcoin traders and investors bet that Trump's acknowledgment of bitcoin will bring greater awareness of crypto and could push prices up .
However, far more importantly, Trump has inadvertently catapulted bitcoin and cryptocurrencies into a presidential issue and given valuable recognition to the bitcoin technology —with some 2020 US presidential election hopefuls already bitcoin and cryptocurrency fans.
" Probably the largest bull signal for [bitcoin] ever, the chief executive of bitcoin and crypto exchange and payments group, Jeremy Allaire, said via Twitter . " Crypto now a presidential / global policy issue. People everywhere embrace a mix of sovereign and non-sovereign digital currency. " Elsewhere, the bitcoin and cryptocurrency community took Trump's tweets as an endorsement of bitcoin and the underlying blockchain technology.
" Achievement unlocked ! I dream about a sitting U.S. president needing to respond to growing cryptocurrency usage years ago, " & nbsp; Coinbase & nbsp; chief executive Brian Armstrong & nbsp; tweeted . " "They'll ignore you, then they laugh at you, then they fight you, then you win." We have just made it to three y'alls. "
While the market has barely reacted to Trump's bitcoin and crypto tweets, market watchers still expected to be a positive boost from Trump giving bitcoin and crypto airtime.
" Even though Donald says he's not a fan of bitcoin, the fact that he's mentioning it all is hugely bullish for the entire crypto market, " Mati Greenspan, senior market analyst at eToro in a note to clients. 19659010] The bitcoin price has been rising so far this year as bitcoin and cryptocurrency interest from big tech companies builds.