Bitcoin Price Plummets Again, The Dream Turns Into a Nightmare

The storm in the cryptocurrency market, which experienced a terrifying crash in mid-October, has not yet subsided. Trump pulled the market down by another 5 percent with a new statement.

The month of October, always known as the “green month” for the crypto currency market, has turned into a nightmare for investors. Shortly after the historic crash in the middle of the month, market makers shook the market once more.

Bitcoin Price Cannot Hold Up

In the autumn, expectations that the FED would lower interest rates and that tensions in the Middle East would ease had caused winds of hope to blow in the cryptocurrency market. However, after the historic crash in mid-October, which many investors believe was orchestrated through a Trump-CZ partnership, confidence in the market was also lost.

Bitcoin, which was attempting to recover after the crash, was slowly heading towards the $112,000 level. However, Trump did not remain idle and announced that the tariff on China could be 155 percent. Following the announcement, the already fragile Bitcoin price rapidly lost value, dropping to the $107,000 level.

The total value of the cryptocurrency market, which had reached levels of $4.3 trillion, decreased to $3.64 trillion, losing approximately $800 billion. What broke the investors’ hope was the fact that wallets estimated to belong to the Trump family made over $300 million in profit by taking short positions before the drop and long positions before the rise. The possibility that Trump will continue to manipulate and turn the market into a plaything is frightening investors.

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