The “pricing bomb” of the United States administration also struck the cryptocurrency market.
Bloomberg reported the 2nd (local time) that “the cryptocurrency market has dropped after US President Donald Trump announced a new pricing policy” and “some very speculative virtual assets have been seriously affected”.
Bloomberg focused on the decline of altcoins. Bloomberg said: “Dogecoin, supported by Elon Musk, fell by around 14% while investors fled” and “it is 45% lower compared to the recorded peak after Trump’s electoral victory on December 8 ‘last year”. He added: “The main altcoins such as Ripple, Cardano (ADA), Avalanche (Avx) and Chainlink (Link) also dropped by more than 10% each.”
The concerns about a recession also increases. Caroline Bowler, CEO of the BTC Markets markets, based in Australia, said: “The price war caused by Trump affects the entire financial market” and “fears that the trade war and the stagflation increase in the middle of the economic slowdown) May trigger a recession spreads to the cryptocurrency market. “