Bitcoin's sharp decline due to Tariff imposed by Trump..!?

The US government led by donald trump implemented a 25 percent tariff on goods imported from its major trading partners, canada and Mexico, from february 1. The repercussions of this action have been affecting the investment market since Monday. But not only has the crypto market been severely affected since february 1, but it has also led to a sharp decline in trading on Monday. Bitcoin has fallen to its lowest price in the last three weeks in today's trading alone. Similarly, the counterparty known as Ether is trading at a lower price than it was in early September.
As a result, all investors who entered the crypto market after trump won the US presidential election are now facing huge losses. In today's trading, Bitcoin, the kingmaker of the crypto world, fell to a 3-week low of $91,242.89 and is now trading at $93,172.41. With this, the value of Bitcoin has registered a 6 percent decline in the last 24 hours. Similarly, the value of the most used crypto network and the world's 2nd largest crypto coin, Ethereum, has fallen by 30 percent to $2159.28. The main reason for all this is the rise in the value of the dollar. On january 20, Bitcoin rose to an all-time high of $107,071. After trump won the presidential election, Bitcoin rose by about 40 percent until january 20 alone. Amidst this action, Trump's own company launched a crypto in the name of trump and Melina. The crypto released in the name of trump was launched at $ 0.18 and rose to $ 75 in January.
 
But it fell to $ 17.56 in 15 days. Today, it has fallen by 17.21 percent in one day alone. Similarly, the value of Melina trump crypto has fallen by 82.19 percent from its launch price and is now at $ 1.43. Last weekend, the US government implemented new tariffs on goods imported from canada, Mexico, and China. Following this, the fear of a global trade war has now increased. Everyone knows what happened between the US and china during Trump's first term. A similar situation is currently happening between canada and Mexico. china has also announced that it will challenge the US's actions in the World Trade Organization (WTO). These actions have increased fears in the investment market about the beginning of a trade war and the adverse effects on the economy. As a result, investors have started investing in the dollar and government bonds instead of investing in gold, the stock market, or crypto. As a result, all three have fallen today, including the stock market, gold, and crypto.
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Sowmiya Sriram

03/02/2025 11:15 AM