BTC Increases over $10,000 after the President’s Speech

Colin Baseman

Bitcoin has just estimated another record – now it has gone over ten thousand USD. This occurred a quarter an hour after Trump’s presentation and his speech related to legislation.

This week started with Trump’s speech during which the President talked about law and order. The issues that appeared due to the riots across the country became one of the most important problems the government intends to solve in the nearest few days.

Another event that attracted everybody’s attention was the BTC’s price – it has finally surged above ten thousand USD. The market saw similar figures only at the beginning of May.

Riots are still taking place in many states. The authorities are doing all possible to prevent conflicts. What triggered the situation and made it this serious was the death of George Floyd. The news soon spread and made the entire population revolt. People are angry about the incident and are ready to keep on expressing their aggression as long as the system changes and admits its fault.

The Price Has Finally Returned

The crypto market keeps track of the latest events as well as the recent trends in the crypto industry. Right after the President’s speech, the BTC’s price began surging. The price immediately climbed over ten thousand USD about fifteen minutes after the speech. Next, the market saw another increase when the price gained another three hundred USD. Here is a chart showing how the BTC’s price has changed in the past 24 hours.

Traders can see how the price returned to more than ten thousand USD. They remember these figures last were in May.

It is vital now to analyze the state of the social metrics along with on-chain data to foresee further growth.

At the same time, when the BTC’s price was moving toward its peak, Donald Trump was about to ensure the country’s population that the authorities will make all communities feel safe and secure. He said he was ready to protect the nation and fight for people’s freedoms. The President will fight rioters and prevent arsonists and anarchists from spreading conflicts.

A few minutes after the speech market analysts and researches saw a visible increase in DAA. Also, social and trading volumes significantly rose. Specialists predict a small decline in the short-term, although they are ready to see the price go toward eleven thousand USD.

 

The results seem mixed yet reflect the network overall health. Researchers warn traders and say that they should stay cautious. Analysts recommend all to watch the crypto metrics to see which direction momentum starts to move in the nearest week. Fear may kick in, but, in turn, profit makers are likely to stay reasonably passive when purchasing the currency below ten thousand USD again.

Here are a few charts illustrating what is happening to crypto assets:

OMG Network is one of the assets that deserve special attention and analysis. The chart below demonstrates the OMG/USD price.

The diagram shows that the OMG price began increasing in the mid-May. Five days later, the asset initiated trading on Coinbase Pro.

Bitfinex published a press release where they state that the exchange had integrated USDT on the asset’s network. They needed it to make their transactions cheaper and faster. This sort of integration will shorten confirmation periods. This approach will speed up payments and reduce costs. The level of security will improve and the platform will permit USDT deposits and withdrawals on the platform belonging to OMG Network.