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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Former Trump Advisor Steve Bannon Boasts of “Big Future” for Bitcoin and Crypto

Tony "The Bull" Severino
Tony "The Bull" Severino
6 years ago
2 mins read

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All last month, the positive sentiment surrounding Bitcoin, crypto, and even Facebook Libra turned negative after United States President Donald Trump made some negative tweets about the digital asset class and its illicit use in criminal activities such as money laundering, cybercrime, drug trade, and more.

And while many Trump-appointed policymakers came out of the woodwork ready to kick crypto while it was down, a former Trump advisor is coming out in support of Bitcoin and crypto, saying it has a “big future” and will play an important role in the “global populist revolt” that’s underway across the world.

Turning on Trump: Former Chief White House Strategist Supports Bitcoin and Crypto

While speaking on a segment of CNBC Squawk Box, recent Bitcoin skeptic turned believer Joe Kernen, who has vehemently defended the crypto asset against chief financial regulators, and other guests he has debated – asks former White House chief strategist Steve Bannon what his thoughts are about Bitcoin and the entire asset class.

Related Reading | CNBC Host Pushes Bitcoin, Cites Halving and Scarcity As Catalyst for $55K BTC 

Kernen jokingly asks “Bitcoin Bannon” if he was buying the crypto asset at recent bear market lows, to which he said he did indeed have the “foresight” and “courage” to buy as it crashed. From there Bannon expands on his beliefs around Bitcoin, suggesting that the asset class has a “big future” given the current political and economic climate.

"I think cryptocurrencies have a big future," says Steve Bannon. "I think they could be a very important part going forward particularly in this global populist revolt." pic.twitter.com/lYce7qzrIY

— Squawk Box (@SquawkCNBC) August 2, 2019

Bitcoin itself he thinks will play a “very important” role in the “global populist revolt” underway across the world. Populism is a political orientation that focuses on the idea that the people and the government or ruling “elite” are at odds with one another. This idea is at the very core of crypto, and Bitcoin was designed to put power over money back in the hands of the people, and away from the control the current “elite” have over people due to it.

The United States first popularized the themes around populism alongside democracy in the 19th century. To this day, populism runs deep in American politics and some argue none more so ever than the current administration.

Bitcoin was also designed to be a replacement for fiat currencies and was hard-coded to have attributes that make it a strong hedge in a struggling economy, once it reaches its full potential.

Related Reading | United States Regulators Begin Crack Down on Crypto and Bitcoin Crime 

Bannon is a believer in crypto and Bitcoin, and recently news broke of the former White House chief strategist working on a cryptocurrency project that rewards political activism and standing up against the same global populist movement that Bannon thinks Bitcoin will play an important role in.

Featured image from Shutterstock
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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