Bitcoin investors went bankrupt due to Donald Trump!
Ever since donald trump became the President of America, there has been turmoil all over the world. The stock markets of many countries, including India, have fallen so much that they have not been able to stand up yet. Apart from this, the effect of Trump's policies can also be clearly seen in Bitcoin. Currently, Bitcoin has fallen by 25 percent from its all-time high and it has now gone below its level of 80,000 dollars.
Bitcoin, which had reached its record high of $ 109,000 last month, is now going through a phase of massive decline. In fact, traders and investors are now distancing themselves from risky assets, as there is instability in the global markets.
Bitcoin fell due to Trump's policies
This decline in Bitcoin started when US President donald trump announced a 25 percent tariff on mexico and canada and an additional 10 percent tariff on china from march 4. This increased uncertainty in the global markets and investors started withdrawing from cryptocurrencies. Bitcoin fell 25 per cent to $79,525.88 during Asian trading hours on Friday. According to CoinMarketCap data, at 9:50 am IST, Bitcoin was trading 5.47 per cent down at $80,078.76. This was the lowest level since november 11.
Other cryptocurrencies also fell
Not only Bitcoin, but other cryptocurrencies like Ether, Solana and XRP were also affected by this fall. It is believed that this decline in crypto has come due to growing concerns about the US economy and Trump's policies. According to a Bloomberg report, investors were hoping that trump would take positive steps for crypto, but so far no concrete plan has come from his side. "It's no surprise that we've gotten here," says Stefan von Haenisch, Bitgo's OTC trading director. "Investors still want clarity on Trump's crypto policies."
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