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| Trump's comments on Bitcoin. |
Prices of major cryptocurrencies weakened on Thursday (12/09) morning in Asia. Although not a determinant of direction, an analyst said a negative interest rate call from United States President Donald Trump could provide support for the price of Bitcoin.
Bitcoin edged up 0.2% to reach $ 10,088.00 at 11.54 WIB. Ethereum fell 0.7% to 178.10, while XRP and Litecoin fell 0.8% and 1.0% respectively.
And Tapiero, a DTAP Capital analyst, said: "a fall in the value of the dollar" that could occur if the Federal Reserve significantly reduced interest rates would benefit Bitcoin.
"The Federal Reserve must reduce our interest rates to ZERO, or less, and we must then start refinancing our debt. FEES CAN BE REDUCED, while substantially at the same time extending the period, "Trump wrote in a tweet posted last night.
Butero said the negative interest rates proposed by the president would encourage people "to do something else with their cash," rather than putting their wealth in a bank.
Source: Investing.com