Bitcoin Falls Below the $100,000 Mark
Trump's 'Tariff War' Triggers Sharp Decline
Some See Buying Opportunity Amid Market Turmoil
U.S. President Donald Trump declared a 'tariff war,' causing the price of Bitcoin, the leading cryptocurrency, to plummet below $100,000. Some argue that this decline could present a buying opportunity.
According to cryptocurrency information platform CoinGecko on the 3rd, the price of one Bitcoin was trading at $96,418 as of 9:50 a.m., down 4.8% compared to 24 hours earlier. Bitcoin had barely maintained the early $100,000 range the previous day but sharply dropped in the afternoon, falling below the $100,000 mark and extending its losses.
This trend emerged after President Donald Trump announced on the 31st of last month that tariffs on Canada, Mexico, and China would be implemented as scheduled. President Trump signed an executive order imposing tariffs on Canada, Mexico, and China under the International Emergency Economic Powers Act (IEEPA). Accordingly, starting from the 4th, a 25% tariff (10% on oil and natural gas) will be imposed on Canadian goods, a 25% tariff on all Mexican products, and an additional 10% tariff on Chinese products.
Cryptocurrency specialized media CoinDesk analyzed, "President Trump has followed through on his threat to impose high tariffs on major trading partners," adding, "The cryptocurrency market is being hit hardest by the risk-off sentiment."
Robert Kiyosaki, author of the financial investment bestseller Rich Dad Poor Dad, warned on social media platform X (formerly Twitter), "Trump's tariff imposition is starting. Gold, silver, and Bitcoin could crash."
However, he also said that this sharp decline could be a buying opportunity. He stated, "I will buy more after the price drop," adding, "A crash means assets are on sale. Now is the time to become rich."
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