Crypto prices tumble as Trump-fuelled euphoria fades; Bitcoin down 27% from all-time high
LONDON/NEW YORK – Cryptocurrency prices have fallen sharply in recent weeks and are not expected to rebound soon, with some of the biggest digital currencies erasing nearly all of the gains they made after US President Donald Trump’s election win triggered a wave of excitement across the industry.
Some analysts said the market is likely to remain subdued while waiting for a bullish signal, such as indications that the US Federal Reserve plans to cut interest rates or a clear pro-crypto regulatory framework from the Trump administration.
Bitcoin, the biggest cryptocurrency, was down 5.8 per cent at US$79,363 by 7am in London on Feb 28 (3pm Singapore time). This marks a 27 per cent fall from its all-time high of US$109,241 on Jan 20,…
