There have been few other public figures that can divide a country like U.S. President Trump. There seems to be a kind of funky polarized field of energy around him that makes people love him or hate him. Very seldom do people think twice before judging his words or actions, but they support their own emotion-based love or hate view. For the masses portraited in the media, that’s a significant dislike.
Originating from Portland, Oregon (the protest capital of the world), I knew it was only time until Trump mentioned Bitcoin. I always assumed he was like Mr. B with a dislike for any cryptocurrency. At the same time, I feared what would happen if he publically commented on it. I guess that the timing was right. With all the political saber-rattling in the U.S., anything that comes from him is ridiculed and hated by the general public. The opposite is also true. Anything he dislikes gets praised. Trump’s recent public comment on his dislike of Bitcoin and other cryptocurrencies brought them into the political spotlight. The market responded well. People in the cryptoworld are happy with his comment.
However, the highly volatile cryptomarket might be in for more of a roller coaster ride than a mooning. While a “thumb’s down” from Trump might lead to a bull market for the cryptoworld, it brings with it a curse. Anything linked to a political party suffers the fate of the party. How many august figures would have lost everything if they didn’t jump from an unpopular stance to a crowd-pleasing position, like Kayne West jumping from self-proclaimed devil-worshipper to born again Christian with “new albums” for fun and profit? Objects can’t choose sides to please the masses. If crypto becomes an icon of one party, when they screw up, it will suffer along with them. Imagine the cryptoworld’s volatility balancing on the words and actions of politicians.
Regardless, this might be what Sleepy Joe needs to beat the Don. Everyone knows that the masses love a candidate into the things that the other side shoots down. To show that they are into cryptocurrency, soon political debates and propaganda might use terms like – “My opponent is just a bitter scattergood nocoiner and his plan to stimulate the economy is nothing more than a pump and dump.”
What’s your view of cryptocurrency being dragged into politics?