Crypto Market Tumbles

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Crypto Market Tumbles

Crypto Market Tumbles As Euphoria Fades Away

It appears that the crypto market is now coming to its senses as the Euphoria led by Trump is now fading away. A quick look at the crypto market shows all the major coins are down.

In fact, it appears that the gains made after the win of Trump are now at risk of being reversed. There's no doubt that continuation of this bearish trend will eventually lead us to the earlier levels.

All Big Coins Are In Red

According to senior analysts, the crypto market will remain under pressure unless we get a bullish signal. What could be that signal? It can be an interest rate cut by the Federal Reserve or a very crypto-friendly move from the Trump administration.

For starters, Bitcoin (BTC) is already down by more than 20% from its ATH. What's worse is that there's no end in sight as the markets are now coming back to their senses. Ether, another big name from the crypto market, has already shed 40% of its value.

In fact, the Trump coin, which was based on the President Trump, is also down by around 80% from its ATH. The shift in sentiment comes as the Trump administration has failed to deliver anything which would classify him as crypto president.

Overall, the crypto market is disappointed and now they are looking for something fresh to act as a catalyst. Also, Trump's policy of putting tariffs is also hurting the crypto market's sentiment.

Meanwhile, one analyst from Standard Chartered believes that BTC is just getting ready to hit $500K. This is a very bold prediction given that the recent ATH for BTC was just $109K.

The only way BTC could hit the $500K would be something very bullish. For example, BTC becoming a part of the US Sovereign fund could lead the coin to hit these bullish levels.

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