Tariff Decision of Trump Weight Big on Crypto Market, Bitcoin Declines to USD 83,600, Donald Trump

The announcement of the US President Donald Trump’s new tariff has been affected by a major impact on the crypto market. The price of the biggest cryptocurrency bitcoin has decreased by about two percent on Thursday in terms of market value. A few weeks ago, there was a major decline in this market due to the tough decisions of Trump.

International when this report is published Crypto The price of bitcoin on exchange binance declined by more than 1.70 percent to about $ 83,642. The second largest cryptocurrency Ether had a loss of more than 3.60 percent. The Ether’s price was trading at $ 1,814. Other declining cryptocurrencies included Cardano, Solana, LiteCoin, Stellar, Polkadot and Chainlink. In the last one day, Crypto’s market capitalization declined by about 1.80 percent to about $ 2.66 million.

Market analysts say that the US has imposed tariffs in various slabs on many countries. Trump’s declaration of tariff is volatile in bitcoin. Bitcoin was strengthened and its price had reached more than $ 88,000 but after that it has come down to $ 84,000. The Ether has a recession trend. Recently, the Executive Director of the Council of Advisors of the President on the Digital Assets of the White House, BO HINES, said that the US government is considering ways to use its gold reserve to submit bitcoins. He said, “If we redeem the profit on the reserve of Gold, it will be a good way to buy bitcoin.” Hines also mentioned the Bitcoin Act introduced by Senator Cynthia Lummis. It has been favored to buy about 1 million bitcoins. This will be about five percent of the total supply of bitcoin.

Recently, Trump signed an order to create a strategic reserve of bitcoin. America’s Strategic Bitcoin Reserve will include bitcoins seized by the government. The Crypto Market estimated that bitcoin would be purchased by the US government for this reserve and this would strengthen the demand. However, in the executive order that Trump has signed, it is clear that the amount of taxpayers will not be used to buy cryptocurrency.