After Trump’s swearing in, Bitcoin slipped from record levels, Ether and Solana also declined.


New Delhi:
After Donald Trump’s inauguration as the 47th US President, the price of Bitcoin (Bitcoin Price Today) has fallen below the record level. Investors are now waiting for the Trump administration to announce policies for the crypto sector. It was expected that an executive order regarding digital assets would be issued immediately after the swearing-in, but this has not happened yet.

Bitcoin fell nearly 1% to $101,300 at 9:46 am on Tuesday. Before Trump was sworn in, it had reached a high of $109,241.

Trump and Melania’s meme coin created a stir

Let us tell you that before swearing in, Trump and his wife Melania had launched Memecoins, which created a lot of volatility in the market. Initially this move caused a stir in the market, but later investors took it positively and believed that the Trump administration would promote crypto.

According to a Bloomberg News report, Trump is considering issuing an executive order to declare cryptocurrencies a “national priority”. During the election campaign, Trump had expressed his support for crypto, whereas earlier he had called it a “scam”. He talked about making America a global hub of crypto and creating a strategic reserve of Bitcoin.

Impact on other cryptocurrencies also

Apart from Bitcoin, the prices of other cryptocurrencies like Ether and Solana have also fallen. According to CoinMarketCap, the price of Trump Memecoin remains around $31. Its total market value reached $15 billion on Sunday, but later it fell drastically.

Mixed reaction on Mimecoin

There is a mixed reaction in the crypto industry regarding Mimecoin launched by Trump and Melania. Some experts believe that this may lighten the image of cryptocurrency, while others are considering it as a positive step.

Ben El-Baz, managing director of HashKey Global, says that the launch of these tokens has further accelerated the momentum of Bitcoin, as retail investors are expecting the Trump administration to give priority to crypto.

It is worth noting that memecoins generally depend on social media and have high volatility. Their value rises and falls rapidly, which can make investing in them risky. Now investors are keeping an eye on what major steps the Trump administration takes regarding the crypto market.



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