Bitcoin experiences a significant price drop to $79,523 due to various factors. Experts remain divided on future projections.
Bitcoin (BTC), the world’s largest digital currency by market value, has reached its lowest price level in the past 3.5 months with a significant decrease today. Factors such as concerns over Donald Trump’s tariff plans, new regulations on digital currencies, and a $1.5 billion hack in the Ethereum (ETH) network have led to a drop in the price of this digital currency to $79,523. Alankar Saxena, the CTO of Mudrex, believes that despite efforts to stabilize the price around $86,000, the market’s downward trend continues. However, institutions like Standard Chartered remain optimistic and predict a $500,000 target for Bitcoin. The recent approval of Bitcoin reserve in Texas also indicates government support for this sector.
