
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.
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.
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.