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The weekly road in Bitcoin worsened on Friday, and the digital resource achieved over 3 months low, withdrawing the profits that took place after the election of US President Donald Trump.
Bitcoin traded around USD 80,500 in early trade in Asia, which is a 3.45% decrease during the day and almost 25% lower than the highest level in mid -December.
Bitcoin enjoyed the increase in prices after Trump's victory in November, and the leader said he was a candidate of Pro-Keptto during his campaign.
However, prices fell when investors avoided assets perceived as risky, taking into account the weakness of global stock markets, uncertainty about the tariff policy of the new president and resolutions in large wars, such as Russia-Ukraine and Israel-Gaza.
The sentiment of investors was also weakened by news that Bybit, the main exchange of cryptocurrencies, suffered Hack worth $ 1.5 billion In what is estimated as the greatest cryptographic robbery in history.
“It seems that the market has become unstable in response to the Bybit incident,” said Jeff Mei, operational director of Crypto Exchange Btsse in a statement sent to CNBC, adding that concerns about inflation and break in the Fed rates in the US also suppressed markets.
Despite this, some cryptographic bulls remain positive at Bitcoin's perspective, waiting for key regulatory changes in Trump's administration.
Trump has already signed an ordinance promoting the development of cryptocurrencies in the US and developing national digital assets. Meanwhile, his administration created Task forces Ia “Crypto spell“The task of supporting bright regulatory frames for cryptocurrency assets.
Geoffrey Kendrick, director of research on digital assets in the Khartered standard, said in an interview with CNBC “Squawk Box Europe” on Thursday that Bitcoin could exceed the $ 200,000 threshold This year.
The increased reception of cryptocurrencies by institutions along with some “regulatory transparency” in the US should lead to less variability over time.
—CNBC Ryan Browne contributed to this report