Bitcoin Price Corrected As Trump Doesn't Talk About Crypto In His Victory Speech

Illustration of Bitcoin (photo: Pixabay)

JAKARTA - Bitcoin had scored an All-Time-High (ATH) of over $109,000 just before Donald Trump's inauguration as US 47th president.

However, during his inauguration speech, Trump did not seem to mention anything about crypto, as a result, the price of Bitcoin was corrected again near the level of 100,000 US dollars or around (Rp1.63 billion).

Crypto analyst from Reku, Fahmi Almuttaqin said that the Bitcoin price correction indicated a decrease in investor confidence in the immediate execution of Trump's pro-crypto policies within 100 days of his inauguration.

In fact, Trump's tweet on X regarding the launch of Trump Official ($TRUMP) meme coins before the inauguration, made the coin manage to reach a market cap of more than 14.5 billion US dollars in no time.

"After Trump's inauguration, the $TRUMP coin corrected about 30 percent in the last 24 hours," Fahmi said in a statement received on Tuesday, January 21.

But, although crypto assets were not mentioned in the speech, Trump has placed several pro-crypto figures at the White House, such as David Sacks, former PayPal executive, and a prominent investor.

Yang di mana menurut Fahmi, potensi terkait cadangan Bitcoin nasional dan perintah eksekutif presiden untuk menghentikan kasus-kasus hukum yang dilayangkan kepada proyek-proyek kripto masih ada.

"The possibility of going forward can be said to be still quite dynamic. Investors can monitor Trump's next steps, particularly given the significant impact in influencing price movements in the crypto market so far," he explained.