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Bitcoin Price Touches New Height After Trump's Threatening Calls facebook

Bitcoin Price Touches New Height After Trump's Threatening Calls

Zain Raza by Zain Raza - 07:02 AM Jun 02, 2020
Bitcoin Price Touches New Height After Trump's Threatening Calls

The top cryptocurrency by market cap broke the key resistance of $10k last night after testing it for weeks and bitcoin price went beyond the $10,250, courtesy of a few calls made by the president of US Donald Trump. The ongoing protests over racial discrimination where protestors are out in the streets in enormous numbers. The president had to turn to police and National Guards to tackle the situation and remove the crowd. The ongoing protest was regarding the brutal assault of George Floyd, a black man who died after being manhandled by a police officer.

Bitcoin Price Jumps and Altcoins Follow

Bitcoin was trading at $10,383 at press time after multiple failing attempts in the last few months to breach the $10k  mark. As it happens far too often altcoin responded in a similar fashion and the price of most in top 20 surged by 3-5% with the top altcoin Ethereum hitting $250.68 after experiencing a $6.64% surge.

There have been massive outrage and outcry in the US ever since the death of George Floyd. A police officer held his knee on his neck leading to his death on the streets. His excruciating death and call for help were heard across the US.

There have been loots, protests in major US states despite the severe predicament the country is already facing as Covid-19 has already caused immense damage to both life and economy. The lockdown decision was already not supported by a few people in the country who came out on streets and now Floyd's death has made matters worse and the protestors decision to target White House forced the President to display signs of a military lockdown.

The bitcoin price rally correlation with political calls can clearly not be underestimated and this was another fine example that especially when military operations are in the mix it usually jump-start a price surge. Previously it was on display when the US and Iran were involved in a tug of war.

However, the bitcoin price dipped once again and at the time of writing and is currently is trading at $10,088.

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About The Author
Zain Raza

Zain RazaZain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

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