Bitcoin reacted with losses to the US tariff package.
However, the world’s oldest and best-known cryptocurrency was recently able to reduce the steep losses immediately following US President Donald Trump‘s announcement of far-reaching tariffs the previous evening. One Bitcoin last cost $83,550 on the Bitstamp trading platform on Thursday morning, about four percent less than before Trump’s press conference at 10 p.m. During the night into Thursday, the price had plummeted to just over $82,000.
This means that Bitcoin continues to trade within a narrow range for cryptocurrencies, between around $80,000 and $85,000. Trump is considered a supporter of digital currencies, but so far he has failed to fulfill the hopes of crypto supporters. Bitcoin reached its all-time high of more than $109,000 on the very day of his inauguration.
Since then, Bitcoin has declined, partly due to uncertainties surrounding US tariff policy, but the current price is still significantly higher than the level it reached before Trump’s election in early November.
US President Donald Trump is declaring war on trading partners around the world with a massive tariff package. His administration is introducing new flat-rate tariffs of ten percent on imports from all countries. Many countries will face significantly higher punitive tariffs depending on their trade deficits. New tariffs of 20 percent are planned for imports from Germany and other European Union countries into the US.
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