You know what they say...all publicity is good publicity. At least that's the idea put forth by several influencers in the crypto community after President Donald Trump took to Twitter to lash out against bitcoinBitcoin
The first blockchain-based cryptocurrency, launched in 2009. Bitcoin remains the most influential and widely recognized coin. All other cryptocurrencies are known as "altcoins," simply because they are not Bitcoin.
You know what they say...all publicity is good publicity. At least that's the idea put forth by several influencers in the crypto community after President Donald Trump took to Twitter to lash out against bitcoinBitcoin
The first blockchain-based cryptocurrency, launched in 2009. Bitcoin remains the most influential and widely recognized coin. All other cryptocurrencies are known as "altcoins," simply because they are not Bitcoin.
First they ignore you, then they laugh at you, then they fight you, then you win. (Brian Armstrong - CEO of Coinbase)
Fundstrat Global Advisors Head of Research Tom Lee took these attacks as a positive sign. He commented that “On balance, it’s a positive because cryptocurrencies and bitcoin really are in the main stage now — Congress, the Fed, the president weighing in.’’ He goes on to make the point that Bitcoin is finally grabbing the world stage … at least in terms of acknowledgment. The theory being that since President Trump has such a wide reach… his comments will at least make people curious..and may lead some to even buy a little ‘just in case there is something to it.’
Tom Lee goes on to note that Federal Reserve Chair Jay Powell mentioned bitcoin and Facebook's Libra crypto project several times in a hearing. Mr. Lee says “It’s going to force everybody who is not involved — and remember a very small percentage actually cares about crypto and bitcoin — it’s going to force the other 98% of the world to think about what it means.”
And it isn’t just crypto analysts and influencers weighing in. The CEO of Coinbase, Brian Armstrong was quick to see Trump’s tirade as a win by saying he “dreamt about a sitting U.S. president needing to respond to growing cryptocurrency usage years ago.” He also tweeted ‘’First they ignore you, then they laugh at you, then they fight you, then you win.’’
So will people in crypto be winning? According to Mr. Lee...yes...to the tune of $20,000 to $40,000 by the end of 2019. He argues that all this press about BTC...both good and bad...will generate FOMOFOMO
Fear of Missing Out. Investors with FOMO buy cryptocurrency (emotionally rather than logically) for fear of missing out on profits.
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