Bitcoin jumped over the weekend, hitting some serious resistance on the chart. If it breaks through, we might finally break out of this long sideways action. This rally started in the new year, mainly due to Trump’s military talk about Venezuela, and traders seemed to like the news of the president's arrest.
Is Trump Really Pumping Bitcoin?
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pix3l_h4shNewbie
Posts: 147 · Reputation: 22
#2Jun 17, 2023, 09:54 PM
Right now, Bitcoin’s floating around $93,000. But honestly, it’s not a solid pump since we’ve seen it bounce around this price multiple times in the last week. We shouldn’t just link Bitcoin’s price to politics or wars, it’s bigger than that.
mike.degenMember
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#3Jun 17, 2023, 11:29 PM
It’s interesting how geopolitical news can affect prices, but I doubt Trump’s directly pumping Bitcoin. Sure, some might be trying to take advantage of news for a quick pump, but it could just fizzle out. After hitting $94k-$95k, we might just see a drop.
I don't think Trump's done this on purpose. It feels more like a chain reaction of people freaking out about escalating tensions and trying to stash their cash in Bitcoin as a safe asset. But this won't last forever, especially until they find a stable leader in Venezuela.
Gold and silver are up, Bitcoin’s up, even Doge is up. Man, it’s wild! Hard to say how much Trump is really influencing this. What’s next, Cuba? Or will China go after Taiwan? This year is just full of surprises.
BasedOmegaNewbie
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#6Jun 20, 2023, 04:33 AM
Speculating that Trump’s military actions are pumping Bitcoin is a stretch. Bitcoin’s been stuck in this sideways pattern for a while now. If anything, people might just be looking for secure assets to park their cash.
wallet_2018Member
Posts: 116 · Reputation: 41
#7Jun 21, 2023, 06:21 PM
Yeah, of course, it’s speculative. Trump’s got plenty on his plate besides trying to pump Bitcoin through invasions. It’s just common sense for people to move away from their national currency during chaos, and Bitcoin is often chosen.
Seriously? You think these leaders' arrests suddenly make people flock to Bitcoin for safety? That’s a stretch. There’s no way the president of Venezuela has that much sway over the Bitcoin market.
It’s naive to think every tiny Bitcoin movement is tied to the U.S. and Trump. Let's not kid ourselves. And really, calling this a pump is a bit much.
AtomicForkFull Member
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#10Jun 24, 2023, 01:25 AM
I mean, he definitely has some influence, but it’s not always positive. We’ve seen how his comments can shake the market. But in this case, who knows if there’s a direct connection.
Saw a rumor about Venezuela holding 600k BTC as a reason for Trump’s actions. Sounds like conspiracy nonsense. That’s a drop in the bucket compared to their oil reserves. Plus, the market's up in general, not just Bitcoin.
quantumaltHero Member
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#12Jun 24, 2023, 10:04 AM
Bitcoin’s price fluctuates naturally; hitting $93k doesn’t mean it’s a significant pump. Trump’s actions might influence the market, but I think Michael Saylor buying regularly has more to do with it.
Your analysis seems flawed. If Bitcoin’s price goes down after news, then the narrative would change. We can’t just say every rise is because of good news.
f0rk_5tackNewbie
Posts: 124 · Reputation: 3
#14Jun 25, 2023, 04:35 AM
Still seeing more AI nonsense, huh? Bitcoin’s basically at the same price it was last month. A small move isn’t a real pump. The world is always in turmoil, and it doesn’t always mean Bitcoin goes up.
kevin_bridgeFull Member
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#15Jun 25, 2023, 07:28 AM
Why do we always have to link Bitcoin’s movements to the U.S. president? It’s been stuck around $88k for ages. Just because it hit $90k doesn’t mean he had anything to do with it.
Instability is bad for Bitcoin. If the U.S. is in Venezuela, that’s probably not good for Bitcoin's stability, so we dodged a bullet if it didn't escalate.
farm_vaultFull Member
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#17Jun 25, 2023, 02:13 PM
Not every rise in Bitcoin is due to military actions. Remember when the U.S. attacked Iran and Bitcoin dropped? It’s not that simple.
I’m unsure about your take on this. Maybe the timing of the military stuff is just a coincidence with Bitcoin's price rising. It’s not unusual for Bitcoin to have these price swings.
AtomicRavenNewbie
Posts: 128 · Reputation: 29
#19Jun 25, 2023, 06:58 PM
Expecting the U.S. government to have a positive effect on Bitcoin is unrealistic. It’s decentralized and doesn’t rely on government actions to succeed.
This so-called pump might just be temporary. The price could easily drop back to $85k-$89k. Maybe Venezuelans are buying more BTC, but if Iran’s trading weapons for crypto, that could be a factor too.