Bitcoin Rises and Falls $10,000 in a Day... Crying and Laughing with Trump
Bitcoin prices have been repeatedly surging and plummeting based on 'Trump's words.' Experts predict this volatility will continue for at least another year.
According to cryptocurrency market tracker CoinMarketCap on the 9th, Bitcoin prices have been on a roller coaster recently. The volatility has been particularly pronounced this month. The price, which was below $84,000 on the 1st of this month, touched $95,000 on the 3rd, only to drop back to the $82,000 range just two days later. Min-seung Kim, head of Korbit Research Center, diagnosed that "Bitcoin volatility has been maximized" and "the market appears to be mixed."
The cause of the volatility is US President Donald Trump. President Trump unexpectedly announced the US government's plan to strategically stockpile cryptocurrencies on the 2nd, stimulating Bitcoin investment sentiment. However, the very next day, when President Trump signed an executive order imposing tariffs on China, Mexico, and Canada, fears about economic uncertainty hit the cryptocurrency market.
Bitcoin prices continued to fluctuate afterward. This was due to the intertwining of Trump-driven positive and negative factors, such as the postponement of tariffs on Mexico and Canada, and the White House's "Virtual Asset Summit." Regarding this, analysis platform Sentiment noted that "rapid cryptocurrency policy changes surrounding the US and global tensions have pushed market volatility to its peak."
The problem is that this situation is likely to be prolonged. Above all, market uncertainty due to President Trump's aggressive tariff policy is cited as the biggest variable. Gracy Chen, CEO of global cryptocurrency exchange BitGet, pointed out that "short-term volatility is inevitable in the process of adapting to President Trump's capricious policies and changes in the regulatory environment."
