Why crypto is going down or crashing was trending on Thursday as Bitcoin (BTC) and altcoins like Ethereum (ETH), Solana (SOL), and Cardano (ADA) sunk. Bitcoin dropped to $82,000 and the market cap of all crypto coins fell by over 4% to $2.65 trillion. 

Crashing Crypto Fear and Greed Index

The main reason why Bitcoin and other altcoins plunged is that the financial market embraced a risk-off sentiment following Donald Trump’s decision to start the biggest trade war in over nine decades. He added double-digit tariffs on goods from countries such as China and the European Union.

This black swan event could trigger a recession or even a great depression as consumer spending slows. Indeed, recent…