Bitcoin Crash

Bitcoin falls even further: value dips below 80,000 dollars

The value of the cryptocurrency bitcoin fell further on Friday due to the ongoing wave of selling among digital currencies. The price dropped below 80,000 dollars, reaching its lowest level since November 10.

On Friday morning, bitcoin was worth approximately 79,800 dollars (76,800 euros) according to data from crypto platform CoinMarketCap. That is more than 7 percent less than the day before and almost 19 percent less than a week ago. Other cryptocurrencies such as Ethereum, XRP, Solana and Dogecoin also fell in value on Friday, with losses of around 10 percent.

In the run-up to the US presidential elections, which were held on November 5, 2024, bitcoin rose sharply. This advance continued after Donald Trump’s victory. This was because he had promised to turn the United States into a global “crypto capital” and to relax the regulations surrounding digital currencies. On January 20, the day of Trump’s inauguration, the bitcoin even reached a record value of over 109,000 dollars.

However, since reaching that record price, bitcoin has lost more than a quarter of its value. One of the reasons for this is that Trump has not yet changed US crypto policy. The threat of a trade war may also be a factor, making investors more cautious.

However, the decline of the last few days is mainly due to the biggest crypto heist ever taking place last week. In the heist, 1.5 billion dollars worth of digital coins were stolen from crypto platform Bybit.

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