Finst

Bitcoin has had its worst start to the year since 2018

The omens could hardly be more favorable: the election of Donald Trump, the prospect of a Bitcoin reserve and a price close to 100,000 US dollars fueled the price fantasies.

By Mike Hesp
• 2 min read
Bitcoin has had its worst start to the year since 2018

The omens could hardly be more favorable: the election of Donald Trump, the prospect of a Bitcoin reserve and a price close to 100,000 US dollars fueled the price fantasies. But things turned out differently.

Despite a very crypto-friendly agenda that the US is pursuing under Trump, including a “strategic Bitcoin reserve”, the price of the largest cryptocurrency is down more than twelve percent in the first quarter.

That is the worst Q1 result since 2018, when the price fell by as much as 49 percent between January and March, according to data from Coinglass.

One of the main reasons for the current weak performance is Donald Trump's trade policy, which still causes uncertainty in traditional markets and also leads to significant price drops in the crypto market.

And yet: things look even bleaker with Ethereum. Between January and March, the ETH price fell by 45 percent. That is also the historically second worst result, narrowly missing the record. In 2018, the price plummeted by 46 percent.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.