Bitcoin price falls below $88,000 post-Trump's executive order. Experts share varied opinions on the impact of the move on the cryptocurrency market.
Bitcoin (BTC) faced a significant drop following Donald Trump’s signing of an executive order to establish a strategic reserve. After David Sacks, the White House AI and Digital Currency Lead, tweeted, Bitcoin price plummeted from $90,200 to $85,400 and is currently trading around $88,000. Nick Ruck, LVRG’s research manager, believes traders’ disappointment with the news having a lesser impact than expected was the main reason for this price decrease. Despite this, Matt Hougan, Bitwise’s Chief Investment Officer, has a more positive outlook. He thinks Trump’s establishment of a Bitcoin reserve considerably reduces the likelihood of a future US government ban on Bitcoin.
