The cryptocurrency markets faltered on Monday, as former President Donald Trump’s threats to impose tariffs took a toll on investor confidence. The biggest shock was a significant drop in the price of Trump’s own meme coin.
The tariffs, denounced by many as a potential disruption to global economic growth, have already impacted stock markets worldwide. However, the effect they might have on cryptocurrency was previously unexplored territory.
In the wake of Trump’s threats, many cryptocurrencies saw their values diminish. Most notably, Trump’s own meme coin, previously touted by its creators as an unshakeable investment, fell in price. This drop illustrates the pervasive influence of international politics on cryptocurrency markets, which are not immune to the impact of such geopolitical developments.
This event reiterates the volatile nature of cryptocurrencies, highlighting the fact that even seemingly-unrelated political events can have significant effects on their value. Read More
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