The value of bitcoin continued to decline on Friday due to the ongoing wave of selling among digital currencies. The price of the world’s largest and most famous crypto coin fell below $80,000, reaching its lowest level since November 10.
Bitcoin rose sharply in the run-up to the American presidential elections, which were held on November 5, 2024. That rise continued after Donald Trump’s victory.
During his election campaign, Trump promised to make the United States a global “crypto capital” and to relax regulations around digital currencies. On January 20, the day of President Donald Trump’s inauguration, bitcoin reached a record of more than $109,000. Since then, its value has fallen by more than a quarter.
According to data from crypto platform CoinMarketCap, Bitcoin was worth around $79,800 on Friday morning. That is more than 7 percent less than a day earlier and almost 19 percent less than a week ago. Other cryptocurrencies such as ether, XRP, Solana, and Dogecoin also fell further on Friday, with price losses of around 10 percent.
Be First to Comment