The Bitcoin (BTC) community expressed mixed reactions to the Crypto House peak of March 7, and some investors characterize it as a historic day for bitcoins and cryptocurrencies, while others called this event disappointing.
Crypto trader Miles Deutscher he said The event was “massive positive net” for bitcoins, despite mixed reactions.
Kyle Samani, managing partner at Multicoin Capital and participant in the summit, characterized It is as a “historical moment” for the cryptocurrency industry.
After the event, the founder and general director of Coin Bureau nothing Puckrin he asked“Looking at the charts, I can assume that nothing breakthrough comes from the top of the White House?”
President Trump and members of the office get comments to the Summit of the White House. Source: White House
Maxist Bitcoin Justin Bechler was very critical of the meeting. “The White House” Crypto Summit “is a meeting of lobbyists looking for rent pushing supervision tokens approved by the state”, Bechler wrote on X.
The cryptographic peak of Trump’s White House represented a drastic departure from the position of the previous administration towards the industry and followed the ordinance of President Trump establishing the Bitcoin strategic reserve.
Related: Trump changed the crypto from the “compressed industry” to the “central” American strategy
Markets react to the cryptographic summit in the White House and the executive order
The price of Bitcoins dropped by about 7.3% after the Bitcoin Strategic Reserve strategic order and the peak of the White House cryptocurrencies in the commonly interpreted Sell-the-News event.
President Trump Executive ordinance authorized the US government to purchase additional BTC only through forfeiture of assets and neutral strategies for the budget, which do not cause additional debt, deficit or tax on the taxpayer.
This reservation was disappointed with some Bitcoin maximalists who hoped that the US government would actively buy additional BTC for the reserve.
Current Bitcoin action. Source: TradingView
Bitcoin Exchange (ETFS) rotary funds registered $ 370 million outflow after announcement, because traders perceived executive ordinance as disappointing.
Most investors now provide This bitcoin will advance to a price level of USD 70,000 in March, and then recover $ 100,000.
The disappointment of the recent executive order and the resulting negative price actions caused a debate on whether Bitcoin reached the peak of the cycle or can still reach fresh heights in 2025.
Warehouse: The domination of Bitcoin will fall in 2025: Benjamin Cowen, X Hall of Flame
