Bitcoin slumped to its lowest level in over three months.
Worries about US tariffs further dented investor confidence after last week’s theft of £1.2billion of cryptocurrency from a Dubai exchange.
The price of the coin fell as low as $86,000 – a far cry from its peak at close to $110,000 last month on the same day as Donald Trump’s inauguration.
His victory in the US presidential election had sent bitcoin soaring after he vowed to make the US the ‘crypto capital of the planet’.
However, it has fallen recently as investors watch on nervously as Trump’s plans to impose tariffs on trading partners.
Fears of a resurgence of trade wars has led investors to dump more risky assets – with bitcoin among those being hit.
Crypto slump: The price of bitcoin fell as low as $86,000 – a far cry from its peak at close to £110,000 last month on the same day as Donald Trump’s inauguration as US president
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
Saxo
Saxo
Get £200 back in trading fees
Trading 212
Trading 212
Free dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.