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Bitcoin falls to lowest level since Trump took office

2 days ago

Bitcoin prices tend to be volatile, but analysts with Deutsche Bank said in a note on Wednesday that the latest drop was "triggered by" Trump's nomination of Kevin Warsh, as the new chair of the Federal Reserve. Some believe he will take a more "hawkish" approach, keeping interest rates higher, whereas looser monetary policy tends to support investment in assets such as crypto currencies.

Bitcoin prices have been trending down for the last four months, Deutsche noted, and there has been growing negative sentiment around cryptocurrency more broadly.$BTC

BTC

70,424.32

+1.18%

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