Bitcoin currency decreases to less than 102,000 dollars: encrypted currencies flexibility test

Bitcoin’s path is rarely smooth, and its latter stupidly contradicts what investors and traders expected in the wake of President Donald Trump’s inauguration.

In the last examination, Bitcoin (BTC) was traded slightly more than $ 101,000 on Sunday night – a 3 % decrease.

Trump worker

The enthusiasts of the bitcoin were optimistic when Trump began his second term as a president, expecting a wave of policies in support of encrypted currencies. However, the opening letter Lacker Any reference to digital assets, and the market has noticed it.

Investors who wagered on the management of encrypted currencies were disappointed, which led to a wave of sales.

What made the clay worse is the presence of a pair of metal currencies associated with the Trump brand – which is called “The official Trump” (TrumpAnd “Melania” – I entered the market with great enthusiasm, just to Shatter Amazingly.

The value of the Trump symbol decreased by half a few days after it appeared for the first time, while the performance of Melania was worse, as it lost 74% of its value. These flashy but short -lived projects have increased instability in the already tense market.

The opposite economic winds

Meanwhile, the strong economic data issued by the United States played a dual role. While the strong performance of traditional markets provided reassurance to some investors, it also turned the capital away from the most dangerous assets such as cryptocurrencies. The interaction between these macroeconomic powers has exacerbated the suffering of Bitcoin.

Flashes of hope

Despite the disturbances, Bitcoin is still carrying a great value, as it is traded at more than 100 thousand dollars, a level that many considered unlikely a few years ago.

In the long run, optimism remains. Larry Fink, CEO of Blackrock, and other speculators at the height of cryptocurrencies and companies that offer boxes on the stock exchange (ETFS) is a huge mutation.

Where are you anticipation Bitcoin can rise to 700,000 dollars, as institutional investors deepen their invasion of encrypted currencies.

What is the next step?

Currently, the cryptocurrency market faces a decisive test of flexibility. While the Bitcoin’s decline has shook confidence, the broader society is still steadfast, and he sees that these fluctuations are equal to the path.

At the time of writing the article, the value of Bitcoin is about $ 101477. see below.