Bitcoin's Value Plummets Amid Ongoing Slump Since Trump's Election
The world's most popular cryptocurrency has continued its downward slide, wiping out all gains made since US President Donald Trump's re-election in 2024. Bitcoin fell by over 7% on Thursday, adding to a week of losses that have seen the digital asset plummet nearly 20% in value since the start of this year.
The latest downturn takes bitcoin's price below $71,000 and marks a sharp reversal from its all-time high in October last year, when it hit an astonishing $127,000. Despite speculation surrounding Trump's intentions to turn the US into a cryptocurrency powerhouse, his administration has faced resistance from lawmakers and industry experts.
A bill aimed at regulating cryptocurrency trading stalled in the US Senate due to disagreements between banks and firms. Democratic lawmaker Ro Khanna has vowed to investigate World Liberty Financial, a cryptocurrency venture launched by Trump, following reports of a $500m deal with an Abu Dhabi official. These developments have cast doubt over the future of the crypto industry.
The losses on Wall Street are not limited to bitcoin, as silver dropped by 16% and stock indexes in Hong Kong and Japan fell by 1.3% and 0.7%, respectively. The cryptocurrency market's woes have mirrored broader economic concerns, highlighting the interconnectedness of global financial markets.
As investors wait for signs of stabilization in the crypto sector, they are left to ponder whether Trump's promises of a light-touch regulatory environment will materialize. For now, bitcoin remains volatile and uncertain, its price subject to the whims of market forces and investor sentiment.
The world's most popular cryptocurrency has continued its downward slide, wiping out all gains made since US President Donald Trump's re-election in 2024. Bitcoin fell by over 7% on Thursday, adding to a week of losses that have seen the digital asset plummet nearly 20% in value since the start of this year.
The latest downturn takes bitcoin's price below $71,000 and marks a sharp reversal from its all-time high in October last year, when it hit an astonishing $127,000. Despite speculation surrounding Trump's intentions to turn the US into a cryptocurrency powerhouse, his administration has faced resistance from lawmakers and industry experts.
A bill aimed at regulating cryptocurrency trading stalled in the US Senate due to disagreements between banks and firms. Democratic lawmaker Ro Khanna has vowed to investigate World Liberty Financial, a cryptocurrency venture launched by Trump, following reports of a $500m deal with an Abu Dhabi official. These developments have cast doubt over the future of the crypto industry.
The losses on Wall Street are not limited to bitcoin, as silver dropped by 16% and stock indexes in Hong Kong and Japan fell by 1.3% and 0.7%, respectively. The cryptocurrency market's woes have mirrored broader economic concerns, highlighting the interconnectedness of global financial markets.
As investors wait for signs of stabilization in the crypto sector, they are left to ponder whether Trump's promises of a light-touch regulatory environment will materialize. For now, bitcoin remains volatile and uncertain, its price subject to the whims of market forces and investor sentiment.
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Ugh, can't believe my money's been doing so poorly! I mean, I know it's always volatile with Bitcoin, but this is crazy! A 7% drop on just one day? That's like a whole lot of cash gone in an instant 
. And to think it was up all the way to $127k last year... what happened?! 
.
. I'm no expert, but it seems like everything's connected these days. Can't we just have one stable investment option for once?! 
I mean, I got into it back in 2017 when it was like $1,000 or something, and now it's like half that! My friend's brother made a killing off it, but also lost a bunch. He's always stressing about it, you know? Anyway, it's crazy to see how the market can just tank like that. I've got some friends who are super bullish on bitcoin, but I'm just over here thinking... what if it crashes all the way to $0?! 
Would that be a good thing or bad? I don't know! The more I learn about it, the more confused I get! 
what's next, nft paintings? 
seems like all we're getting are empty promises and a bunch of angry lawyers 
[www.reuters.com](http://www.reuters.com)
anyway it's just a mess right now and bitcoin is paying the price 
. I mean, $71k is still crazy rich, but this volatility is getting old. What do you guys think would happen if they just set some stricter regulations and guidelines? Would that calm the market down? 
u gotta wonder if that abu dhabi official got scammed or something btw does anyone know how to even get into the cryptocurrency market??
. Can't they just stick to one direction for once? It's like they want us to lose our minds trying to keep track of their prices 
no wonder it's all over the place 
. I swear, if I had $71k burning a hole in my pocket right now, I'd be super stressed out 
️ - unpredictable 
. I'm not surprised by the slump though 
. The whole crypto world is still trying to figure out its place in the market 
.
, but not too much 
. We need some clarity on how to invest safely 
. And what about these wild price swings? 
!
. Until then, I'll just keep an eye on my crypto wallet 
and wait for stability 
. It's all part of the wild ride that is cryptocurrency 
!