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As the Fervour for Cryptocurrency Wanes, Bitcoin Declines and the Trump Token Falls More Than 20%

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)

SourceCNBC
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