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Trump Trade Suddenly Pulls Back Significantly! Musk Shocking Statement: New Government Will Depress Bitcoin and Dogecoin Prices...
On Wednesday (January 8), Bitcoin plummeted and nearly fell below $96,000, with funds betting on the Trump Trade pulling back significantly, resulting in $205 million in long liquidations within an hour overnight. Billionaire Elon Musk stated that if Trump's newly established Department of Government Efficiency (D.O.G.E) successfully combats inflation, it could depress the prices of Bitcoin, Dogecoin, and other major cryptocurrencies.
Forbes reported that Musk has repeatedly warned that with the national debt skyrocketing, the U.S. could be heading towards bankruptcy.
After Musk supported Trump's campaign for U.S. president, the prices of Bitcoin and Dogecoin soared together, with traders betting that the Tesla billionaire and Twitter owner would help Trump establish a government supportive of cryptocurrency.
Forbes reported that Musk has repeatedly warned that with the national debt skyrocketing, the U.S. could be heading towards bankruptcy.
After Musk supported Trump's campaign for U.S. president, the prices of Bitcoin and Dogecoin soared together, with traders betting that the Tesla billionaire and Twitter owner would help Trump establish a government supportive of cryptocurrency.
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