Bears are Chasing Bulls

     The price of Bitcoin has experienced a sharp decline, dropping below $82k; this represents a 27% drop from its all-time high of $109k. Cryptoverse was expecting a bull storm in the market after President Trump's executive order of a strategic Bitcoin reserve, but instead, the surprising bear attack has left experts racking their brains.

Even Altcoin market is Red

     President Trump's executive order also includes a stockpile for altcoins, but the altcoin market has similarly taken a hit and fallen as well. I understand the drop in ALT price, especially XRP, which was jumping into thin air after Trump's early announcement; but even Dogecoin is hit hard, despite Dogefather's DOGE being a US government agency.

I suspect Whales, not Trump

     Some experts are considering Trump's tariff plan as a possible reason for the unexpected drop, but I do not agree with this because tariffs are only capable to affect the companies associated with the product. Bitcoin is not something that is hit by import or export tariffs. I think some whale movement, like attempts to buy cheap, is creating the dip.

Originally published at Wubits as thread