Trump's First 100 Days: Crypto Crumbles as POTUS Promises Fail to Materialize

Trump’s win was also considered a triumph for Cryptocurrency supporters because of his supportive stance towards digital currencies. Initially, the administration aimed to assist the cryptocurrency sector during the first hundred days. Nonetheless, Trump’s trade conflicts with various nations have predominantly impacted thecrypto market the most.

Prices have fluctuated significantly because of concerns and skepticism regarding the overall economy. Additionally, the increase in electronics costs has made it more challenging for Bitcoin miners to achieve profitability. There are also numerous apprehensions surrounding the BRICS countries' initiative to reduce their reliance on the U.S. dollar.

Investors both within the U.S. and internationally lack confidence in the current President of the United States (POTUS). At the close of January, Trump’s approval rating stood at 50.5%, compared to a disapproval rating of 44.3%. However, these figures have shifted; his present disapproval rating is 52.4%, whereas his approval rating stands at 45.3%, based on the latest averages.

Trump's crypto-friendly approaches have been overshadowed by his tariffs.

Throughout his campaign, Trump fueled an optimistic surge in the cryptocurrency sector, leading to a bullish trend that shattered various records. What initially ignited enthusiasm among cryptographers was Trump’s decision to prohibit the U.S. central bank digital currency (CBDC).

On March 7, Trump issued an order establishing a "Strategic Bitcoin Reserve." Nonetheless, this move lacked excitement. Rather than outlining a definitive strategy for how the U.S. government would purchase and store Bitcoin, it merely established one fund designed to accumulate all the Bitcoin seized through illicit probes conducted by authorities.

The directive indicates that the government may purchase additional Bitcoin without expending public funds. Besides this Bitcoin reserve, Trump established a U.S. Digital Asset Reserve as well. This reserve also contains various other digital currencies such as Ethereum, Solana, XRP, and Cardano.

Most recently, top Trump memecoin The holders had an opportunity to dine with the president, which sparked fresh worries regarding his crypto initiative and prompted a U.S. legislator to demand impeachment proceedings. Conversely, the value of the cryptocurrency surged by 50%. week , leading to brief increases in value for other meme coins as well.

Despite the minor strides made by Trump towards the cryptocurrency sector, his imposition of tariffs largely offset these advancements. To illustrate, Bitcoin dropped to $85K on Liberation Day and then fell to $77K on April 9th following Trump’s announcement of 125% tariffs on goods from China. Additionally, U.S.-based crypto miners faced heightened operational expenses, particularly when purchasing new mining equipment.

The eagerly anticipated cryptocurrency regulations have already started. Choke Point 2.0 down; additional rules will be announced shortly.

Michelle Obama’s biggest fear

Michelle Obama The ex-first lady’s primary concern regarding Trump’s administration wasn’t related to market issues; instead, it was focused on immigration and her description of inadequate due process within the Trump administration’s deportation strategies. Her comments didn't touch upon economic decline or trade barriers but were centered around the mistakes made under the Biden Administration that Trump aims to correct.

She argues, And understanding that there's immense prejudice, significant racism, and considerable ignorance driving such decisions, I am deeply concerned about individuals of color across the nation. I'm uncertain whether we'll find enough supporters to safeguard everyone. This worries me; it haunts my nights.

This mirrors something Barack Obama mentioned. Obama expressed greater worry over what he characterized as the White House encroaching on liberties. Additionally, he stated that he does not believe Trump’s recent tariff announcement will "prove beneficial for America."

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