The revival had begun, while Donald Trump's victory gave another boost to the cryptocurrency market. But four months after being sworn in as President of the United States of America, the digital currency market is going downhill. The "trade war with tariffs" is the reason. From over 102 thousand dollars at the beginning of the year, Bitcoin, the most widespread virtual currency in the world, is worth about 83 thousand dollars.
"In a way, it was expected. Whenever the markets get distorted, the effects are immediately felt in cryptocurrencies. Because the market is volatile and speculation is not lacking. That's why there was a decline," said Denisa Kele, a digital currency market expert.
Data from Coin Market Cap shows that the decline has also included other digital currencies. Ethereum's value has fallen to less than $1,800, Binance's $592 and Solana's just $116.
"I think it's a momentary loss. Especially since the "halving" process is now approaching and its value in the market will increase significantly," said Denisa Kele, an expert on the digital currency market.
In Albania, it is estimated that there are up to 50,000 cryptocurrency investment portfolios, mainly in Bitcoin, worth around $90 million. The tariff war has also affected the portfolios of the latter.
Sinkron Denisa Kele, expert on the digital currency market...
"In the long term, I would say that we will have a return to the power of cryptocurrencies and from this, those Albanians who have investment portfolios will also receive more money," said Denisa Kele, an expert on the digital currency market.
When it was created in 2009, Bitcoin was worth just 1 cent. In over a decade, the cryptocurrency has had several peaks, most notably in 2019 and 2021 when it was worth $11,800 and now over $83,000. (A2 Televizion)
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