Here’s why Bitcoin and altcoin prices disappointed after Trump crypto summit speech
Bitcoin and other altcoins like Avalanche, Dogecoin, and IOTA dropped on Thursday, erasing some of the gains made after the Fed decision.
Bitcoin (BTC) dropped to $84,000 from this week’s high of $87,500. Ethereum (ETH) fell to $1,965, while Dogecoin (DOGE), IOTA (IOTA), and JasmyCoin (JASMY) fell by over 4%. The total market cap of all cryptocurrencies dropped by 1.5% to $2.74 trillion.
Bitcoin and other altcoins failed to move higher after Donald Trump declared that crypto would expand the dominance of the US dollar. He made the statement in a pre-recorded video for Blockworks’ Digital Asset Summit, a crypto conference in New York City, as he continued to amplify his pro-crypto sentiment.
