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The Bitcoin prize falls below $ 10,000 as President Trump's slam crypto



A man walks past an ATM in Vilnius, Lithuania.

Ints Kalnins | Reuters

Bitcoin fell sharply on Monday, following President Donald Trump's criticism of Crypto Curves.

The world's most valuable virtual currency fell about 10% to $ 10,175, according to CoinDesk data. The dive card under $ 10,000, drop as low as $ 9,872.

The reason for the downward movement was not immediately clear. But it comes after President Trump said last week that he was not a "fan of Bitcoin" and other Cryptocurrencies, which is not money and whose value is very volatile and based on thin air. "

" Unregulated cryptobases can ease illegal behavior, including drug trafficking and other illegal activity, "added Trump.

Trump was also critical of Facebook's plans to create a crypto competition called Libra, which will be associated with a basket of state-backed currencies and assets to maintain a stable value, Facebook should apply for a bank license if it wants to become a banker, Trump said.

Someone in the cryptic column pulled off Trump's comments Brian Armstrong, CEO of the digital currency exchange Coinbase, said that it was a "performance" that set the crypto in the spotlight, while Fundgrat Global Advisors & # 39; Tom Lee called it "positive because crypto curves and bitcoin really are in the main stage now." [1

9659002] Nevertheless, bitcoin is still more than 160 % since the beginning of the year, despite the recent withdrawal, analysts attributing the rise of the digital coin largely to news of big companies so m Facebook, involved in the room.

Elsewhere in the market, ether and XRP – the world's second largest and third largest crypto curve – were also in negative territory. Ether dropped almost 17% to $ 221 while XRP fell 5% to around 31 cents.

In other crypto news, Chinese police confiscated about 4,000 computers belonging to bitcoin miners accused of stealing electricity worth nearly $ 3 million last week. Bitcoin mining is known to be an energy-intensive operation, with a recent study saying it uses as much energy as Switzerland.


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