{"id":389920,"date":"2019-07-15T22:00:19","date_gmt":"2019-07-15T22:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=389920"},"modified":"2024-06-11T13:45:28","modified_gmt":"2024-06-11T13:45:28","slug":"analysts-believe-bitcoin-looks-bullish-despite-growing-fears-of-a-trump-ban","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analysts-believe-bitcoin-looks-bullish-despite-growing-fears-of-a-trump-ban\/","title":{"rendered":"Analysts Believe Bitcoin Looks Bullish Despite Growing Fears of a Trump Ban"},"content":{"rendered":"
Bitcoin and the aggregated crypto markets have faced an extension of the downwards pressure that they have been battling with over the past several weeks, which briefly sent BTC back into the four-figure price region before it found some buying pressure that allowed it to climb slightly higher.<\/p>\n
Analysts are now noting that BTC is nearing a price level at which it may reverse its recent downtrend and continue its upwards ascent, but this sentiment comes at a time where fears are growing regarding US President Donald Trump possibly banning Bitcoin.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading down nominally at its current price<\/a> of $10,555, which is down slightly from its daily highs of $10,700 but is up from its recent lows of roughly $9,900.<\/p>\n The downwards pressure that has led Bitcoin back towards the four-figure price region was first sparked when the crypto sharply rose to $13,800, which proved to be an unsustainable rally that subsequently led to an extended period of sideways trading.<\/p>\n Despite this, many analysts and mainstream news networks have attributed BTC\u2019s recent bout of volatility to President Trump\u2019s criticism of the cryptocurrency, which has since sparked fears regarding either a ban on Bitcoin or an imminent regulatory crackdown.<\/p>\n Alex Kr\u00fcger, a popular economist on Twitter who focuses primarily on cryptocurrencies<\/a>, spoke about the plausibility of a ban on BTC in the US, noting that although it is feasible, it is highly unlikely.<\/p>\n \u201cTL;DR: A Bitcoin ban in the US is feasible. Ban could come via a Trump executive order. Ban could be over-turned. Probability of a ban is extremely low. Probability increased last week. Regulatory risk keeps many institutions away. A ban would see $BTC crash rapidly,\u201d he explained in a recent tweet.<\/p><\/blockquote>\n 16\/ TL;DR<\/p>\n – A Bitcoin ban in the US is feasible — Alex Kr\u00fcger (@krugermacro) July 15, 2019<\/a><\/p><\/blockquote>\n\n
– Ban could come via a Trump executive order
– Ban could be over-turned
– Probability of a ban is extremely low
– Probability increased last week
– Regulatory risk keeps many institutions away
– A ban would see $BTC<\/a> crash rapidly pic.twitter.com\/VEz5y58arL<\/a><\/p>\n