The price of Bitcoin plunged under $90,000, reaching levels not seen since mid-November, marking a reversal of gains that had followed Donald Trump’s presidential victory.
The cryptocurrency experienced a sharp decline of up to 8.5%, its most significant single-day drop since August. By Tuesday at 11:20 a.m. in New York, Bitcoin was trading at $86,805, down 7.6%. The downturn affected other digital currencies as well, with Ether, XRP, and Solana experiencing even steeper declines during the trading session. A benchmark index measuring the performance of major cryptocurrencies was headed toward its biggest four-day decline since early August.
But there’s important reasons not to fall for this trick – this is where the rich fool the average uninformed investor into selling out of fear, buy their coins cheap before the next bull run – and the next one may be the biggest yet! Do you really want to have no Bitcoin when this happens?
Video Courtesy of Bloomberg