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Bitcoin Slumps to Near $10,000 on Trump’s Negative Comments By Investing.com

© Reuters.

Investing.com: fell to about $ 10,000 on Monday in Asia after negative comments by US President Donald Trump last week.

Trump wrote on Twitter on Thursday that "he is not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on air," adding that "unregulated encryption assets can facilitate the illegal behavior, including the drug trade and other illegal activities. "

Bitcoin initially jumped nearly 7% after its comments, but erased all profits shortly after and has now fallen more than 15% since Friday.

Trump also criticized Facebook Inc (NASDAQ :). It plans to launch its own digital currency, Libra.

"If Facebook and other companies want to become a bank, they should look for a new Banking Letter and be subject to all the Banking Regulations, as well as other Banks, both national and international," he added.

Bitcoin prices were pushed to a maximum of 15 months earlier this year, after Facebook's proposed plans for Libra sparked new interest in cryptocurrency and the underlying technology.

In February, JPMorgan Chase (NYSE 🙂 also announced plans for JPMCoin, the first cryptocurrency backed by the US bank. UU

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