A Bear Market Under Trump: The Rollercoaster Ride of Bitcoin Prices
A Bear Market Under Trump: The Rollercoaster Ride of Bitcoin Prices
Ever since Donald Trump strode into the presidential office, Bitcoin holders have been gripping their wallets like they’re on a wild amusement park ride. What started as a thrilling rush has turned into a dizzying drop as Trump’s policies play havoc with the cryptocurrency market. Talk about a bearish season!
Let’s rewind the clock a bit. Just 300 days into Trump’s presidency and those exciting bullish vibes of the early days are long gone, thanks to tariffs that popped up faster than you can say “Wall Street”—especially when the target is China. It was like watching a cliffhanger movie where Bitcoin lost its grip almost right out of the gate!
In the first 40 days, Bitcoin plunged like a rock, sliding below the zero percent mark and plummeting down to the -10% and then -20% zones. Ouch! This was triggered by the tariff news which made even the eternal optimists start biting their nails in anxiety.
Instead of a rapid bounce back, Bitcoin settled into a recurring nightmare—stuck in the limbo of -10% to -20% for weeks. It was like watching a soap opera where the storyline was all about market indecision, with Bitcoin just trading its time away with ups that were more like tiny hiccups than actual trends.
By the time we hit Day 100, Bitcoin seemed to be in a perpetual game of limbo, swinging back and forth around the neutral point without really taking a definitive stance in either direction. Kinda like an undecided college student at a taco truck. One minute close to a breakout, the next zooming back down: the drama was real!
Sure, there was a glimmer of hope when Bitcoin reached a heart-pounding peak above $126,000, just before a good ol’ government shutdown sent prices tumbling once again. Talk about a plot twist! Even after the government gave the thumbs up to resume business and Trump offered Americans a $2,000 check—yes, please!—Bitcoin was still struggling to keep its head above the $100,000 psychological barrier. That’s right, folks: it fell below that threshold not once, but twice in just a month!
Looking at the numbers, it’s clear that Bitcoin hasn’t exactly been on a strong bullish escapade since Trump took office. Instead of riding high on waves of growth, it’s been more like a sloth on a roller coaster—slow, cautious, and with barely a hint of momentum. Long spells of struggle, brief rebounds that fizzled out, and then more sliding back down. It’s been a wild ride indeed, but not the exhilarating kind we all were hoping for.
The overall sentiment in the market feels akin to a climate of uncertainty: a little too anxious and a little too cautious for traders to take any major leaps. With Bitcoin currently 20% off its all-time high and no significant catalysts in sight, the treasure map to stable growth seems lost in the wilderness, leaving everyone wondering where the adventure will lead next.