The shares associated with encryption declined amid concerns about the economy

It is said that encrypted currencies and shares associated with encryption have declined alongside the S&P 500 index, amid the concerns of traders on a global trade war and potential stagnation.

Bitcoin has lost more than 10 % of its value and has lost more than 45 % since the beginning of the quarter, Bloomberg I mentioned Monday (March 31).

The report added that four shares in the encryption industry – Coinbaseand Riot control platformsand Core Scientific and Galaxy Digital – It fell below as they were on the day of the election of President Donald Trump.

Before their fall recently, the value of cryptocurrencies and shares associated with encryption increased at the beginning of the year amid optimism about Trump’s election, according to the report. Bitcoin price reached a record on the day of Trump’s inauguration.

The report attributed the last decline to Trump’s commercial wars, which raises concern about the greater economy, and its actions lack the hopes of encryption fans, according to the report. The report said that while Trump devised a strategic reserve for Bitcoin, taxpayers did not allow the use of taxpayers to expand it.

The decrease is not due to the problems about Crypto itself, as traders’ concerns about the economy also pushed the S&P 500 index to what may be the worst quarter since mid -2012, according to the report.

The report added that although some encryption fans consider Bitcoin “digital gold”, the cryptocurrency has not been adopted as a hedge against inflation. The report said that while Bitcoin fell, Gold has achieved the best quarterly return since 1986.

It is reported in February that the world Crossed currency markets He lost more than 800 billion dollars in the previous few weeks, as the enthusiasm of the encryption sector that came with Trump’s victory in the elections began.

At that time, the merchants felt frustrated by Trump’s speed in continuing some of it Campaign promises And anxiety about the record breakthrough Subordinate Pipe Exchange of cryptocurrencies.

Shortly before Trump’s inauguration on January 20, it was reported that Bitcoin price 48 % increased since the presidential elections on November 5 due to Trump’s expected policies and the most widely raised assets of investor expectations that the Federal Reserve will achieve more cuts in interest rates.