The price of bitcoin Fallen below $ 90,000 and other cryptocurrencies saw large decreases on Tuesday morning, erasing some of the gains that digital assets have done since President Donald Trump took office in a Pro-Crypto program.
Bitcoin, the most popular cryptocurrency in the world, was negotiated at around $ 89,000 at the opening of the US stock market. It is down compared to around $ 106,000, which was the price around the inauguration of Trump. The drop in bitcoin and other cryptographic assets accelerated after a report showed a greater drop than expected from consumer confidence for this month.
Cryptocurrency is very volatile and prices can change quickly. Even with Tuesday’s decline, Bitcoin has always been up since Trump won last year’s elections. Supporters said the price reductions are a good investment opportunity.
“Buy the DIP !!!” Eric Trump, the president’s son, said on social networks Platform X. He replaced the letter B with the Bitcoin symbol.
It was a mixed bag for the cryptocurrency industry in recent weeks. The president and the pro-Crypto members of the Congress promised to inaugurate a golden age For industry and promised rapid action to develop friendly regulations. And in recent weeks, regulators of the Securities and Exchange Commission have reported plans to abandon the implementing measures against the main players in the industry, as Jamming And Robin.
But a tall hack of a great exchange of cryptocurrency – one of the biggest flights of all time – and a major scandal involving the president of Argentina and a piece of memes have highlighted some of the vulnerabilities in a relatively still industry emerging.
Last week, the Bybit of the Cryptocurrency exchange based in Dubai announced that it was a victim of a sophisticated hack that stole approximately 1.5 billion dollars of digital currency. A certain number of security researchers believe that North Korea, that the authorities blamed for several other major cryptography hacks, was at the origin of the flight.
Argentine President Javier Milei faces a corruption probe In his promotion of a piece of memes, called a balance, whose price climbed, then quickly crushed after Milei published on this subject on X. Milei moved away from the same play and denied everything reprehensible act.
The coins are a very speculative form of cryptocurrency which are mainly struck like jokes and have no intrinsic value but can sometimes go up as a price.
One of the crypto developers involved in the scale said coins are essentially a rigged game that benefits a small group of people at the expense of retail investors in a recent interview with an independent journalist.
This developer, Hayden Davis, also revealed that he was involved in the launch of the same corner of First Lady Melania Trump just before the start of her husband. The Melania same corner was negotiated at around 90 cents on Tuesday, down more than $ 13 when it was launched. The president also helped launch a piece of memes just before taking up his duties which has experienced a similar price trajectory.
Solana, a major cryptocurrency which is a key player in the ecosystem of the same part, has experienced its price in two twice since half since the inauguration of Trump.
