Bitcoin drop to less

Bitcoin price fell nearly 10 percent on Monday (3 March), as concerns about an escalating trade war and the uncertainty surrounding a potential cryptocurrency reserve in the United States sent investors to risk.

The largest cryptocurrency in the world decreased by 9.47 percent to $ 85321.69 late in the day, with a total market rating more than one trillion dollars.

The price decreased to 83,165.06 dollars per day Tuesday (4 March) morning, IST.

Al -Atheer, the second largest encrypted currency, decreased by more than 15 percent, while XRP, Cardano and Solana decreased by about 20 percent.

Why did the encryption prices decrease?

Coded
Price It occurred after a market -level sale of these digital assets.

The sale followed a preliminary increase in digital asset prices after former President Donald Trump put forward the idea of ​​creating a national currency reserve.

The plan will include the government’s digital assets, especially from the seized holdings related to court cases or individuals and companies that are punishable.

But doubts are soon identified, as investors wonder whether this fund will obtain the approval of Congress. “Everyone began to buy, then they wondered whether it would really happen,” said Adam Pot, the director of Forexlive.

while
Trump His name is Bitcoin, Ether, XRP, Cardano, and Solana as possible backup assets, the plan remains far from reality.

“It is one thing that you must tweet, but you need to pass legislation to achieve this,” Patton said.

“This is still a long shot.”

There was pressure on encrypted currency markets
Trump confirmed 25 percent of all imports from Mexico and CanadaAnd both of them pledged revenge.

Analysts say that the trade war, along with concerns about slowing US economic growth, has contributed to the excessive risk.

Some industrial leaders also expressed doubts about the proposed reserve structure. Coinbase Brian Armstrong’s CEO suggested that reducing the Fund’s holdings on Bitcoin “may be the best option”, called “simpler” and likened it to gold.

With inputs from AFP