Bitcoin is taking a plunge, with the coin’s value now below RM350,000. The new price is the lowest value of the coin since it peaked at the RM450,000 average and seems to be a reaction to the new global tariffs announced by US President Trump last week.
Not just Bitcoin but Altcoins like Ethereum have also dipped approximately 10% overnight, with the current value now sitting at a RM6,500 average. Experts are saying that this is one of the worst decline in crypto value; the last time the major cryptocoin lost its value was between 2022 and 2023.
At the time, Bitcoin’s peak value was above the RM250,000 mark but slowly saw a decline to an average of RM85,000. The coin eventually began climbing up in value by the middle of 2023, and continued doing so until the start of this year, when it reached a value of RM450,000 for a single coin.
Unsurprisingly, the dip has caused some investors to dump their Bitcoin, with some expecting the drop to continue for the foreseeable future.
(Source: CNBC, Crypto News)
