Bitcoin crash..!! Donald Trump's power only this much..!?

Bitcoin, the world's largest cryptocurrency, has suffered a major decline in today's trading. Bitcoin, which had been trading for more than $ 100,000 for the past few weeks, fell to $ 92,292 today. The main reason for this sharp decline was the monetary policy announcement of the US Reserve Bank. The important thing is that the US Reserve bank has strongly denied that donald trump has given unnecessary examples, as usual, showing that investors' confidence in cryptocurrency has decreased.

The US Reserve bank reduced the country's benchmark interest rate by 25 basis points as expected at the FOMC meeting led by Chairman Jerome Powell. However, the Federal Reserve's predictions about future interest rate cuts have affected the investment market. This tough stance of the Federal Reserve has affected not only the stock market and gold but also cryptocurrencies including Bitcoin. After reaching a new high of $ 108,309 a few days ago, the price of Bitcoin has decreased to $ 92,292 today. Okay, let's come to the point, Donald Trump's speech was the main reason for the rise in the value of Bitcoin. Similarly, the speech of Federal Reserve Chairman Jerome Powell is the main reason for the decline in the value of Bitcoin.
 It may be recalled that donald trump was caught off guard many times during his last term. This time, since he won the presidential election, he has been making many provocative statements. His speech was the reason why Bitcoin rose from $90,000 to $108,309. Everyone knows that donald trump is a crypto supporter, in this situation, trump said last week that after he took office as the US president, he would consider creating a national reserve of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital currency, i.e. cryptocurrency, just as the US collects oil reserves from many places to meet its oil needs. trump also said that he is consulting again on this matter. It was after this information was released that Bitcoin touched a historic high of $108,309. This week, Federal Reserve Chairman Jerome Powell clarified that the US central bank does not want to get involved in any government effort to store Bitcoin. "Central banks are not allowed to hold Bitcoin," Powell said at a press conference after a two-day monetary policy meeting. As a result, Bitcoin's value has been falling sharply over the past two days.
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Sowmiya Sriram

20/12/2024 11:20 PM