Bitcoin and other cryptocurrencies fell on Tuesday, reversing recent gains following President Donald Trump's inauguration. Bitcoin dropped 4%, with ether and XRP losing 2% and 6%, respectively. The TRUMP token plunged 26%, and a Melania Trump-inspired meme token dropped 54% in a single day Investors initially viewed Trump’s presidency as favorable for cryptocurrencies, citing promises of supportive policies, but the absence of concrete announcements during his inauguration dampened optimism.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Bitcoin and other cryptocurrencies fell on Tuesday, reversing recent gains following
00:06President Donald Trump's inauguration. It dropped 4% with Ether and XRP losing 2% and 6%
00:12respectively. The Trump coin plunged 26% and Melania Trump's inspired meme coin dropped 54%
00:18in a single day. Investors initially viewed Trump's presidency as favorable for cryptocurrencies,
00:23citing promises of supportive policies, but the absence of concrete announcements during
00:28his inauguration dampened optimism. For all things money, visit Benzinga.com
00:32slash GSTV.