Bitcoin has overcome its price weakness again – thanks to an announcement by Donald Trump. The cryptocurrency was acted higher this Monday in Asia by a fifth than at the end of last week. Several other cryptocurrencies also rose sharply.
The US President announced the names of cryptocurrencies for the first time on Sunday, which are to be included in a new strategic reserve in the United States. Trump wrote on social media, currencies such as Bitcoin and Ether should “be the heart of the reserve”. He also called XRP (Ripple), Sol (Solana) and Ada (Cardano). Their courses also rose. “I will make sure that the USA is the crypto capital of the world,” wrote Trump.
As a result, the Bitcoin course of $ 78,273 pulled by more than 20 percent on Friday to $ 94,154. Ether also rose by a fifth over the weekend and last noted at $ 2,482. XRP rose by 38 percent, Solana by 20 percent and Cardano by 78 percent.
Crypto scene is thrilled
The posting about the inclusion of tokens in the reserve is “clearly a positive shock for the crypto scene and a shot in the arm for a market that urgently needs a catalyst to change the bear trend,” said Chris Weston, head of research at the Australian online broker Pepperstone. It is possible that the rally will continue until the first crypto summit in the White House next Friday.
Trump's lip service is water on the mills of investors, wrote expert Timo Emden from Emden Research. In the first few weeks after taking office, the hoped -for support for the crypto sector failed. According to Emden, the disappointment is obviously turned back into euphoria. Investors rely on the fact that Trump will make further crypto -specific announcements in the coming days. The introduction of a strategic cryptocurrency reserve could act as a blueprint for other important economies.
Trump is considered a sponsor of cryptocurrencies. Despite the losses since January 20, the Bitcoin course is even more than a quarter above the level before the US presidential election in early November. In mid -January, he temporarily reached a record high of almost $ 109,400.
However, the cryptoma market suffers from incidents that question the seriousness of digital currencies as a whole. This includes the spectacular billion dollar theft on the bybit in Dubai. There, criminal hackers managed to illegally redirect digital money worth $ 1.5 billion (around 1.44 billion euros).
