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A unit of a week in Bitcoin worsened on Friday, the digital asset reaching a hollow of more than 3 months, reversing gains that followed the election of US President Donald Trump.
Bitcoin was negotiated at around $ 80,500 at the start of negotiations in Asia, down 3.45% over the day and almost 25% less than a high blow of all time in mid-December.
Bitcoin had increased prices after Trump’s victory in November, the leader had presented himself as a pro-Crypto candidate during his campaign.
However, prices have slipped while investors escape assets perceived as risky given the weakness of the world’s stock markets, the uncertainty surrounding the pricing policy of the new president and resolutions at the great wars such as Russia-Ukraine and Israel-Gaza.
The feeling of investors was also embittered by the news that Bybit, a great exchange of cryptocurrency, underwent a piracy of $ 1.5 billion in what is estimated to be the greatest cryptographic robbery in history.
“It seems that the market has become volatile in the reaction to the appeal incident,” said Jeff Mei, chief of exploitation of Crypto Exchange BTSE in a statement sent to CNBC, adding that inflation problems and a break in the Fed rate drops to the United States have also deleted the markets.
However, some crypto bulls remain positive on Bitcoin prospects while they are waiting for the main regulatory developments in the Trump administration.
Trump has already signed an executive decree promoting the progress of cryptocurrencies in the United States and developing a stock of national digital assets. Meanwhile, his administration has created working groups and a “cryptographic tsar” responsible for supporting a clear regulatory framework for cryptographic assets.
Geoffrey Kendrick, manager of digital asset research at Standard Charterd, said in an interview with “Squawk Box Europe” on CNBC that Bitcoin could exceed the $ 200,000 threshold this year.
The increased adoption of institutions cryptography as well as “regulatory clarity” in the United States should lead to less volatility over time, he said.
—CNBC Ryan Browne contributed to this report
