Crypto Trading: The continuous increase in the price of cryptocurrency bitcoin faded towards the end of the year. According to a Bloomberg report, its price saw a decline for the first time since August. According to Bloomberg data, the price of cryptocurrency fell by 0.55 percent or $513.65 to a record level of $93,200.38. 

Crypto surges after Trump win

In December, it fell by 3.2 percent. After this, after the victory of Republican Party candidate Donald Trump in the US presidential election, American investors started investing heavily in it, due to which it reached its all-time high of $ 108,315 by mid-December. The price of cryptocurrency increased with the arrival of Trump because Trump supported cryptocurrency during his election campaign. In this election, Tesla CEO Elon Musk also supported Trump and crypto is also his favorite currency. 

Reasons for the falling price of crypto

However, after the expectations of interest rate cut by the US Federal Reserve diminished, the rate of crypto also kept falling because investors reduced their interest in it due to its risk factor. There is always a risk of losing the money invested while trading in crypto. According to the report, a group of Bitcoin exchange-traded funds in the US had expected an investment of about $1.8 billion in bitcoin after December 19. 

Crypto may catch up again

Amid market volatility, the Chicago Mercantile Exchange (CME) open interest in bitcoin futures also fell by 20 per cent from its December high. However, despite this, bitcoin gained a total of 120 per cent in 2024. The report quoted QCP Capital as saying that it may see a rise again after Trump's swearing-in.