Bitcoin Is Store of Value, Says US Politician, as BTC Transaction Volume Hits New Low

News
Mon, 04/06/2020 - 08:50
Yuri Molchan
A few hours before Bitcoin flipped $7,000, a US Congressional candidate called it a store of value. Meanwhile, BTC adjusted volume of transactions has hit a new low
Cover image via www.instagram.com
Contents

A short while ago, the price of Bitcoin broke the $7,000 barrier and is now trading at $7,027. Meanwhile, a US Congressional candidate David Gokhshtein has called Bitcoin a store of value.

‘Bitcoin is pretty much a SOV’

A Republican Congressional candidate who is running in the election on November 3 this year, David Gokhshtein, has again taken to Twitter to comment on the flagship cryptocurrency – Bitcoin. Now, he seems to be a pro-crypto candidate for the US Congress as he has stated that Bitcoin, in his view, is a store of value.

He engaged in a talk with his followers regarding which coin would best suit as a means of quick payment. The options he suggested are LTC and DGB.

Earlier, U.Today reported that Mr. Gokhshtein made a positive comment on his Twitter page regarding XRP – the third largest cryptocurrency.

In the comment thread, DGB followers gladly responded, praising their coin. XRP fans have also raised their voices.

Related
Bitcoin (BTC) About to See Major Sell-Off: US Congress Republican Candidate

‘This next pump, will melt your brain – $BTC’

Crypto influencer for a great number of XRP users, Crypto_Bitlord, has recently proven to be a fan of Bitcoin  too. After BTC hit $7,000 earlier today, he posted two consecutive bullish tweets about the major cryptocurrency, saying that the next Bitcoin pump could be very impressive.

“Call your mom and tell you love her because if this does pump we aren’t coming back. $BTC”

Bitcoin transaction volume hits 3-month low

Not all is well with Bitcoin fundamentals right now, however. As per figures from Glassnode, the Bitcoin Mean Change-Adjusted Transactional Volume reached a three-month low of $10,836.27 earlier today.

The previous low measured over the same length of time was recorded in early January and totaled $10,948.27.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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