Bitcoin and Dogecoin experienced massive gains this week, but both saw sharp declines on Wednesday, with Bitcoin slipping to $86,500 and Dogecoin dropping by 7.66%.
Bitcoin reached a new milestone by surpassing $90,000 on Tuesday, while Dogecoin surged 20% before both experienced a pullback.
Following Donald Trump’s presidential election win, investors showed optimism that his policies could be favorable for blockchain and cryptocurrency, especially for Bitcoin and Dogecoin.
Wednesday’s downturn is largely due to investors selling off some of their holdings to secure recent gains, causing prices to dip.
Companies involved in crypto mining, such as Marathon Digital Holdings, CleanSpark, and Hut 8, also saw significant gains, with stock prices rising by up to 30%.
Bitwise Asset Management introduced the Aptos Staking ETP on the Swiss exchange, allowing investors to earn rewards and potentially boosting mainstream interest in staking.
Trump announced a Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy, sparking curiosity and excitement within the crypto community.
The cryptocurrency market remains volatile, influenced by political changes, investor behavior, and new product developments like the Aptos Staking ETP.
Potential investors are reminded to research thoroughly, diversify their investments, and approach crypto trading with caution due to its unpredictable nature.
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