Crypto prices plummet amid Trump’s trade war, with Bitcoin and Ether hitting lows; investors divided on outlook.
Cryptocurrency markets faced significant declines on Monday, with Bitcoin dipping to a three-week low at USD $94,476.18, while Ether fell to its lowest level since early September at USD $2,494.33.
Investor sentiment was negatively impacted by escalating trade tensions, particularly following US President Donald Trump’s announcement of new tariffs on numerous imports.
The trade war has prompted a broader sell-off in risky assets, contributing to a downturn in the crypto market. More than $2 billion in liquidations occurred in the last 24 hours.
Altcoins also experienced steep declines, with Cardano dropping 25% and XRP falling 22%. Overall, cryptocurrencies have shown heightened sensitivity to market developments.
Despite this volatility, some investors view the downturn as a chance to invest in undervalued assets.
Analyst Robert Kiyosaki highlighted the potential for profit amidst the market’s turmoil, encouraging his followers to see this as an opportunity.
While there was initial optimism following Trump’s election regarding potential crypto-friendly policies, disappointment has set in due to the lack of immediate regulatory changes.
