The fall in the price of the cryptocurrency is associated with the statements of US President-elect Donald Trump, who recently threatened to introduce new trade tariffs against China and other countries.
On the night of November 25-26, the price of the first cryptocurrency fell to $92,410 After that the asset partially recovered its position, and now again shows a decrease in value. This is confirmed by data from CoinMarketCap.
CoinMarketCap
During the day, the asset fell by 6%. BTC capitalization drops to $1.82 trillion.
Analysts explained that the fall in the price of cryptocurrency is related to the statements of US President-elect Donald Trump, who recently threatened to introduce new trade tariffs against China and other countries.
Following Bitcoin, most cryptocurrencies, including altcoins, continued to decline. However, the exception was Ethereum, the second cryptocurrency by capitalization, which rose to $3,242.17.
In retrospect, the cryptocurrency has initially more than doubled this year and is up around 40% in the two weeks since Donald Trump was elected as the next US president and many pro-crypto market lawmakers were elected in Congress.
Also during his election campaign, Trump actively used digital assets, promising to make the United States the “crypto capital of the planet” and to accumulate a national reserve of bitcoins.
In addition, recently it became known that the meme cryptocurrency Dogecoin grew by almost 20%. This was after Trump announced the creation of the Department of Government Effectiveness, which he called DOGE. It will be led by Tesla CEO Elon Musk and Strive Asset Management co-founder Vivek Ramaswamy.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.