In a recent interview with Yahoo, Donald Trump confirmed his willingness to believe and defend the US dollar against other currencies, FIAT or crypto. In particular, the former US president declared that Bitcoin and cryptocurrencies are a real enemy of the dollar that could undermine the stability of the American currency in the near future, so it is necessary to adopt all the useful tools to defend oneself and contain the risk.
Trump has assets of billions of dollars and for this reason he is more interested than others in defending the value of the dollar because if the currency loses value, his empire will collapse too. In this regard, Trump also stated that China's Bitcoin ban is strategic as it is eliminating potential opponents of its next digital currency which will most likely be issued next year, perhaps in conjunction with the Winter Olympics.
China does not like the freedom of the market for which it has launched this punitive campaign against cryptocurrencies and its holders, although I am still certain that those who want to obtain crypto will have alternative channels such as peer to peer transactions for example. It is difficult to obscure the power of the web and the blockchain can help users to encrypt transactions so as not to be discovered. The ban on China, however, achieved an effect contrary to expectations: after a brief but controlled dump, Bitcoin slowly recovered the lost ground and today exceeded $ 51k. The month of October has almost always been a bullish period for the cryptocurrency that has been renamed Uptober. Many experts are confident in a bullish move by the end of the year and the 100k target is really more and more in the crosshairs.
PlanB's Stock To Flow model indicates that BTC will hit 63k in October and 100k in December, a very encouraging figure as the cryptocurrency has so far always followed the analyst's average, even in the deepest depths. Are we about to see an end of the year similar to 2017? Perhaps it is still early to establish it but there is no doubt that the cryptocurrency market has already experienced a very bullish period at the beginning of the year and could therefore end this year with further ATH.
Trump is right in fearing cryptocurrencies because they are a fairer and more transparent tool than current currencies, it is impossible to hide even small amounts of coins because the blockchain is an open ledger for everyone. More freedom but also more transparency. On the other hand, it is what all the politicians in the world declare during each election campaign. Or not?