Bitcoin has had a rough stretch since Donald Trump's election victory, following a failed attempt to surpass the $100,000 mark. This four-day decline has reduced its value by roughly 8%, with Bitcoin trading at $91,615 on Tuesday morning in New York.
Meanwhile, the broader cryptocurrency market saw a dip in its $1 trillion gain since the November 5 election. The struggle to break through the $100,000 threshold might prompt traders to lock in profits, according to crypto analyst Noelle Acheson, though she believes this setback will be short-lived.
Despite the current dip, experts like Adrian Przelozny remain optimistic about the market’s future, expecting the bullish trend to persist in 2025. Trump's recent commitment to supporting crypto regulations and building a Bitcoin reserve has further fueled optimism.
Finsum: We remain cautious regarding bitcoin in the near term because the priority of these policy changes is still up in the air.
- bitcoin
- regulation
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