Jim Bianco, head of Bianco Research, suggests that the controversial launch of Trump Coin by Donald Trump in January could have been a factor in the record highs of the Bitcoin and digital currency markets. Bianco noted that shortly after Trump’s official Trump Coin launch, Bitcoin peaked at around $109,000. He also pointed out that Solana, a major competitor to Ethereum, also reached its peak in late January. Bianco stated: ‘The Solana network is the home of meme coin madness. Solana peaked three days after the Trump Coin peak and has now almost halved.’ Currently, Bitcoin faces a significant drop from its price ceiling and is trading at its lowest level since mid-November, while Solana has also dropped over 51% from its historical price peak.
