How ‘crypto president’ Trump caused biggest crash in history
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Why the ‘Crypto President’ has overseen a crash in Bitcoin
- Since taking office, President Donald Trump's policies have coincided with a significant cryptocurrency market crash, wiping out over $1.3 trillion in value.
- Bitcoin's price has fallen from its January high of 109,000 to below 75,000, a level last seen around Trump's election win.
- Trump's pro-crypto rhetoric during his campaign, including promises of a bitcoin treasury and protection from regulation, fuelled a price rally that has since reversed.
- Market turmoil following Trump's "Liberation Day" trade tariffs and his controversial meme coin ventures have further eroded investor confidence.
- Despite the downturn, some analysts maintain that bitcoin's limited supply and potential as a long-term store of value remain relevant, drawing comparisons to gold.