Bitcoin hit record $109,000 on Inauguration Day but has dropped 23 percent since.
The price of bitcoin hit a record high of $109,114.88 during intraday trading on January 20, the day of President Trump’s inauguration, but has plummeted since and went as low as $83,741.94 during today’s trading.
That’s a 23.3 percent drop from the intraday record to today’s low, though it was back over $84,000 as of this writing. Bitcoin had been above $100,000 as recently as February 7, and was over $96,000 on Monday this week.
Bitcoin’s drop is part of a wider rout in which over $800 billion of nominal value “has been wiped off global cryptocurrency markets in recent weeks, as the enthusiasm that swept the crypto industry after Donald Trump’s election victory last year ebbs away,” the Financial Times wrote today.