Trump wind hits crypto: Bitcoin at its lowest level since November!
Bitcoin is losing blood. Concerns over stagnation in global markets and new economic moves from the US have triggered sharp declines in the crypto market. Bitcoin lost 5 percent of its value, falling below 80 thousand dollars to see its lowest level since November. Crypto-linked companies also took a hit from this decline, with Coinbase shares falling by up to 14 percent.
Turmoil continues in the cryptocurrency market. Bitcoin, which had risen to historic levels in recent weeks, has experienced a sharp decline due to global economic concerns and new statements from the US.
Market volatility peaked last week, unsettling investors. Bitcoin's annual volatility rate rose to 59.4 percent before retreating to 58 percent. Having gained value since last November on expectations of Trump's pro-crypto policies, Bitcoin has lost over 15 percent of its value in recent weeks.
This sharp volatility coincided with the executive order Trump signed regarding the establishment of a Strategic Bitcoin Reserve and the crypto summit he held at the White House. However, markets were deeply disappointed when they learned that the government would not be purchasing Bitcoin directly, but would only use seized crypto assets as reserves.
80 THOUSAND DOLLAR SHOCK FOR BITCOIN!
Under the influence of all these developments, Bitcoin fell sharply from its peak of 91 thousand dollars to below 80 thousand dollars. While uncertainty in the crypto market triggered waves of selling on stock exchanges, investors turned to gold as a safe haven, accelerating the rise in gold prices.
On the other hand, the Trump administration is not slowing down on crypto regulations. Trump, who promised to approve the stablecoin bill and remove crypto barriers in the banking sector before August, announced at the White House summit that he expects regulations to pass through Congress and reach his desk in the coming months.
Eyes in the crypto world are turned to the new steps the US will take. Whether the fluctuations in the market will continue remains uncertain.
News Source: 12punto
Most Read
Striking picture for Özgür Özel's 'New Party'
The PKK opening and Özgür Özel’s path!..
How did the newspapers view Özgür Özel's farewell to the CHP?
He killed his wife by slitting her throat: Their children witnessed the moments
What did the CHP do?
Özel’s new party move in the world press
Fire at TUSAŞ engine factory in Eskişehir under control
The New CHP, against CEHAPE
From self-efficacy to despair
Kılıçdaroğlu's first message on Özgür Özel's new party announcement