What’s the matter with Bitcoin?
A downward trend is visible and some attribute the Bitcoin decline to the new president of the United States: Joe Biden.
America has a new president and the Bitcoin price is falling. No coincidence, according to some comments online. A scapegoat must always be found to indicate a price fall or rise and in this case apparently it is Joe Biden.
Bitcoin and Joe Biden
Not only Bitcoin is in the red. Other crypto coins such as Ethereum and Ripple are also not in good shape. At the time of writing, the Bitcoin is worth about $ 31,800. That is a completely different picture compared to a few weeks ago, when Bitcoin still managed to hit $ 40,000.
The negative segment does not help. Bitcoin has been declining slowly for a long time, with the past hours as the provisional low point. Bad news for new investors who had just entered the high of $ 40,000. It just goes to show what a difficult investment Bitcoin can be. It is an extremely difficult instrument to fathom in that regard.
Should Joe Biden indeed be the scapegoat in this Bitcoin story, investors are in for a rough time. The fear is that the new president is not very fond of cryptocurrency. This, while Trump was seen as a businessman and the man of money. Anyway very interesting developments. It is again the cat out of the tree with the course of the moment.
