As the optimistic investor attitude surrounding cryptocurrencies cooled following President Donald Trump’s inauguration, Bitcoin and other cryptocurrencies fell on Tuesday.
TRUMP, a cryptocurrency that was introduced last week and represents the next U.S. president, fell as much as 22% in a single day.
Melania Trump’s first lady’s meme token, which she unveiled on Sunday, plummeted 58% in a single day.
At $102,589, Bitcoin fell almost 5%, while XRP and Ether fell 3% and 5%, respectively. Trump’s inauguration as president has been welcomed by cryptocurrency investors as a boon to the sector.
In order to promote cryptocurrencies, the president has pledged to implement measures such as a federal bitcoin hoard and a flexible regulatory structure.
Source (CNBC)