As the cryptocurrency market remains active, the messages that US President Donald Trump will deliver at the Crypto Summit to be held at the White House tomorrow will be closely monitored.

The “crypto-friendly” economic policies of US President Donald Trump and the lawsuits taken in favor of crypto companies in recent weeks have created an optimistic atmosphere in the market, increasing interest in the summit. The summit, which will be attended by leading figures in the crypto industry, could be a significant turning point for investors.

While it was announced last week that the Crypto Currency Summit would be held at the White House, cryptocurrency investors focused on this summit scheduled for tomorrow. The summit will bring together leading figures from the crypto industry, high-level executives, investors, and members of the Digital Asset Markets Working Group. Chase Carey will chair the summit at the White House, and Trump will also make statements. Eyes are turned to the messages that Trump will deliver tomorrow, announcing that the US will add 5 crypto projects to its strategic reserves. Trump is expected to reveal the United States’ bitcoin reserve strategy here. Trump’s statements are expected to have an impact on the markets and increase volatility.

CRYPTO MARKET “TRUMP” MOVEMENTS
The cryptocurrency market has recently shown sharp price movements due to the Trump effect. Bitcoin, which started to rise with Trump’s election as US President and reached a price record of $109,000 in January, dropped to $78,000 last week. Following this decline, rapid growth was seen in the market after Trump announced that the US would add 5 crypto projects (Bitcoin, Ethereum, Ripple, Solana, and Cardano) to its strategic reserves. Bitcoin returned to the levels of $95,000 during this process. Some altcoins saw an increase of more than 30%. However, Trump’s statements about imposing tariffs on Canada, Mexico, and China brought down crypto projects again. Bitcoin, which dropped to around $81,000 earlier in the week, rose again to above $90,000.

STATES ALSO PRESENTING RESERVE DRAFTS RELATED TO BITCOIN
The effects of setting up a “crypto-friendly” economic administration by Trump in the US are seen in many areas. During the Democratic Party’s period, the US Securities and Exchange Commission (SEC) filed many lawsuits against cryptocurrency companies, which had a negative impact on the market. However, in recent weeks, there have been favorable developments for crypto companies in many of these lawsuits. SEC announced that the ongoing lawsuit against the crypto exchange Coinbase and Coinbase Global has been dropped. Similar decisions were made about US-based exchanges Kraken, Robinhood, Gemini, and crypto firms like ConsenSys, OpenSea, and Uniswap Labs. While investigations into crypto companies were being closed, bills were also being introduced at the state level in the US to add Bitcoin to the reserves. If these bills are approved in the relevant legislatures, states will be able to acquire Bitcoin reserves as well.