Bitcoin plummets as Trump begins his inaugural speech
Illustrative photo: Bitcoin started to plummet as Trump began his inaugural speech(Getty Images)
The price of Bitcoin plummeted during the inaugural speech of the 47th President of the United States, Donald Trump, according to CryptoPotato.
It is worth noting that this morning, the value of Bitcoin increased by several thousand dollars, reaching $107,800. However, in the first minutes of Trump’s speech, Bitcoin's price dropped from over $107,000 to below $102,000, as the market braced for his actions regarding the industry following his numerous campaign promises.
Bitcoin
Bitcoin is a cryptocurrency that operates without intermediaries, such as banks or governments. The currency is based on blockchain technology - a distributed database where all transactions are recorded.
According to Reuters, Bitcoin could double in value during 2025, as it did in 2024.
