Following the US declaration of a global trade war, the stock market has seen a downturn, and the cryptocurrency market is also experiencing a decline. Bitcoin’s price has dropped significantly since April 6, reaching $78,800 as of this writing, after hitting a low of about $74,000. This represents a notable fall from its all-time high in January when it was valued at over $100,000. The decline isn’t limited to Bitcoin; the entire crypto market is affected. Despite claims that Bitcoin could serve as a government-free currency, its value seems tied to financial speculation rather than ideological commitment. As investors face tighter monetary conditions, many are selling off their riskier assets, including Bitcoin. This trend highlights Bitcoin’s role as a speculative asset rather than a practical currency. — new from The Verge
