The fluctuation continues between the performance of Bitcoin and Altcoins

Following the inauguration of US President Donald Trump, the cryptocurrency market witnessed sharp fluctuations that led to a decline in the price of Bitcoin from its all-time high of $110,000. The most popular cryptocurrency quickly fell to around $102,000, before settling around $103,000, in the absence of any direct references to cryptocurrencies in the new president’s speech.

This decline coincided with the weekend, which witnessed the launch of two new meme coins linked to the presidential family, which increased pressure on the market. With the ongoing price fluctuations, Bitcoin was able to recover temporarily, recording other highs throughout the day before falling again.

As for the market value of Bitcoin, it exceeded $2.03 trillion, with a 55.4% dominance of the market, allowing the cryptocurrency to dominate most global trading. Despite the violent price fluctuations, these fluctuations are expected to continue in the near future.

As usual, the decline in Bitcoin had clear effects on alternative digital currencies. Coins such as Ethereum, Binance, and LINK have seen relative losses of 3-4%, reflecting the strong correlation between Bitcoin’s movement and the rest of the cryptocurrencies in the market.

Despite the challenges that the cryptocurrency market has faced since the inauguration, investors’ opinions on the near future of Bitcoin and altcoins are mixed. While some see the current volatility as a natural part of the market cycle, others believe that the lack of clear signals from President Trump regarding cryptocurrencies could have a future impact on regulations and policies related to these digital assets. This coincided with the launch of meme coins linked to the presidential family, which raised some concerns among investors about the role of these currencies in tarnishing the market’s reputation and increasing risks. However, it is impossible to ignore the fact that cryptocurrencies have become part of the global financial landscape, and with the growing interest in them, volatility will continue to be a feature of this market for the time being.

Posted using Tribaldex Blog