By 
The world’s largest cryptocurrency by market value, Bitcoin, dropped 5% on Wednesday as concerns over US trade policies weighed on market sentiment.
The cryptocurrency, suffered a significant blow, dropping to $84,201 in market value while Altcoins like Ethereum, XRP, and Solana dropped up to 7% in Thursday’s trade. The sudden plunge sent shockwaves through the crypto market, leaving investors shaken.
By Gamuchirai Mapako
The decline, which affected millions of dollars in market value, has sparked concerns about the long-term stability of the cryptocurrency. Analysts point to a combination of factors, including regulatory uncertainty and market volatility, as contributing to the decline.
Bitcoin is renowned for being a highly volatile asset. It is not unprecedented for Bitcoin’s price to fall 5% or more in a single day. Holding Bitcoin when a negative catalyst impacts the price may result in significant losses.
Comments