“Bitcoin has suffered its longest losing streak since Donald Trump won the US election, after a lackluster start at $100,000 cooled the speculative fervor fueled by the president-elect’s embrace of cryptocurrencies.”, — write: epravda.com.ua
Bitcoin has suffered its longest losing streak since Donald Trump won the US election, after a lackluster start at $100,000 cooled the speculative fervor fueled by the president-elect’s embrace of cryptocurrencies. This is reported by Bloomberg. Four straight days of declines saw the digital asset lose about 8%, which was trading at $91,615. The broader crypto market has lost some of its $1 trillion advance since Election Day on November 5. Cryptocurrencies also faced a bout of risk aversion after Trump rattled markets by promising additional tariffs on China as well as US neighbors Canada and Mexico. Stocks fluctuated while the dollar remained firm, signaling investor caution.Advertisement: Trump has promised to make the U.S. the global home of cryptocurrencies by pushing for favorable legislation as well as the creation of a national bitcoin reserve. Questions remain about how quickly he will be able to implement these changes and whether they are all feasible.Advertisement: As a result, about $7 billion has flowed into US exchange-traded funds that trade bitcoin on the spot market since the election. But on Monday, there was an outflow of $438 million from the dozen ETFs, as demand for bitcoins decreased. We will remind: the Bitcoin cryptocurrency rate continues its growth, overcoming the threshold of 99 thousand dollars. Bitcoin is nearing the $100,000 mark as investors bet that a friendlier US regulatory approach to cryptocurrencies under President-elect Donald Trump will usher in a boom era for the asset class.
