Bitcoin Down, but on Track to Snap Losing Streak

Bitcoin turned negative on Friday, but remained on track to snap a two-week losing streak despite negative comments from President Donald Trump.

Bitcoin fell 0.5% to $11,584, but above a session low $11,109. Bitcoin was up as high as $11,738 intraday as traders assessed Trump's criticism of the popular crypto and Facebook’s upcoming launch of its Libra crypto.

“I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” Trump wrote on Twitter.

“If Facebook (NASDAQ:FB) and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International,” he added.

Trump’s comments come as the crypto community prepares for more bashing from lawmakers about the risk of digital currencies, with Facebook (NASDAQ:FB) slated for hearings next week before both the House Financial Services Committee and the Senate Banking Committee to discuss its crypto project.

Federal Reserve Chairman Jerome Powell warned earlier this week that Libra could not progress unless the social media company resolved “serious concerns” over “privacy, money laundering, consumer protection and financial stability.”

Other cryptos bucked the trend lower, with XRP rising 5.57% to $0.34728, Ethereum flat at $273.67 and Litecoin up 0.51% to $104.87.

  • 38
Block
Add Reply
Feedback |

support~     

Add Reply
expand

thanks for sharing.   

Add Reply
expand

Come and support

Add Reply
expand

Come and mining

Add Reply
expand

Come and support

Add Reply
expand

Great sharing

Add Reply
expand

thanks

Add Reply
expand

support

Add Reply
expand

Support  Landlord           

Add Reply
expand

Thanks  your sharing

Add Reply
expand

nice

Add Reply
expand

keep on

Add Reply
expand

great

Add Reply
expand

good day

Add Reply
expand

Nice sharing       

Add Reply
expand

Support 

Add Reply
expand

Good afternoon 

Add Reply
expand

Great sharing 

Add Reply
expand

Good afternoon

Add Reply
expand

Support you

Add Reply
expand

Support

Add Reply
expand

mining

Add Reply
expand

Comje and support

Add Reply
expand

great sharing

Add Reply
expand

support

Add Reply
expand

mine

Add Reply
expand

good

Add Reply
expand

thanks

Add Reply
expand

good afternoon

Add Reply
expand
You should login to reply
You will reward to {{ username }}

Available Balance: {{balance}}

≈ $ {{usdtAmount.toFixed(2)}} (The reward commission rate is 10.0%)

New Favorite Bag

Add To Favorite You can create multiple favorites and classify the topics. Please select the favorites you want to add.
{{ favoriteBag.title }} {{ favoriteBag.favorites_count }}Topics

{{ text }} OK
fa-bars fa-arrow-up