Expert Calls This the Best Crypto to Invest in Despite Bitcoin Dropping Below $80K
The post Expert Calls This the Best Crypto to Invest in Despite Bitcoin Dropping Below $80K appeared on BitcoinEthereumNews.com.
Despite Bitcoin falling below $80,000, BTC Bull Token has raised nearly $3.5 million. Investors are looking for an alternative way to gain BTC exposure. The cryptocurrency market experienced a steep decline, with Bitcoin falling 6% in a single day. It briefly approached $78,000, reflecting the significant hit the market took. Ethereum also dropped, slipping into the $1,900 range. The market remains highly volatile, leaving investors unsure about the cause of this sudden dip. One key event shaping the market was Texas launching the first U.S. government-run Bitcoin reserve fund. This move signaled growing state involvement in cryptocurrency and showed institutional support. The U.S. government also holds about 200,000 Bitcoin as part of a strategic reserve, further impacting market stability. Venture capitalist Tim Draper praised the idea, comparing Bitcoin’s potential impact on finance to how Netflix changed the movie rental industry. However, the reserve did not come from new Bitcoin purchases. Instead, it consists of Bitcoin seized from criminal and civil cases. Since the government is not buying Bitcoin for the fund, there is no fresh demand, which disappointed investors. While taxpayers will not pay for the reserve, the lack of new capital in the market was a concern. Source – NASS CRYPTO YouTube Channel Adding to the uncertainty, former U.S. President Donald Trump made vague comments about Bitcoin. When asked about the popular phrase “never sell Bitcoin,” he replied, “I’ve heard that phrase a lot. I do not know what is going to happen. Bitcoin could go up or down or whatever.” Instead of reassuring investors, his unclear response created more instability. Trump’s presidency is still in its early months but has already had a strong effect on financial markets. His frequent comments on Bitcoin and economic policies continue to drive price swings. PlanB’s X account raised concerns about the…
Filed under: News - @ March 10, 2025 9:28 pm