NEW YORK, USA — On March 6, Bitcoin price don fall below $80,000, wey be lowest since last year. The cryptocurrency market don suffer heavy losses as U.S. tariffs dey cause economic wahala. Last Wednesday, U.S. introduce new tariffs wey make stock and crypto market dey shake.
After tariff announcement, Ethereum follow suit drop 8% within 24 hours, na hin lowest since five years. The GMCI 30 Index wey represent top 30 cryptocurrencies don drop over 6% in a day, and e don fall more than 32% since January dis year. Stock markets no better too, as S&P 500 and Nasdaq fall nearly 6% on April 4.
Analyst Holger Zschaepitz talk say stock market don lose $8.2 trillion in value, more than during the week wey financial crisis reach peak for 2008. Bitcoin as digital currency, don dey experience serious value drop, causing worry for traders and crypto fans wey don hope for better days after recent highs.
Before dis fall, Bitcoin dey hover above $80,000 almost all year. Now, e dey trade at about $79,000, showing serious drop of over 6% in one day. This sharp decline don shake many Bitcoin traders, especially those wey expect rebound.
The fall for Bitcoin no be lone; e dey happen as global market dey crash. Traditional assets like stocks don dey decline seriously. As April 4 don show, major indexes dey fall together with crypto market. We need to consider the impact of new tariffs wey make traders dey search for safer assets, causing dem to pull back from risky investments like Bitcoin.
Tariff introduction don create ripple effect in global financial markets. As e dey happen, many cryptocurrencies dey face similar declines. Altcoins like Ethereum and Solana don dey drop over 5% alongside Bitcoin. Dis broad pullback don leave many traders confused about the market future.
As of today, Bitcoin price dey just under $80,000, but wetin go happen next dey uncertain. Some traders dey wait make market show signs of stability before dem make any big moves. Others dey even think Bitcoin fit test lower levels if das conditions no better. Support level of $75,000 dey crucial, and if e fall below dat, we fit see more selling pressure shortly.
Despite dis current price wahala, experts still believe Bitcoin fit grow long-term. Though e dey face short-term volatility, Bitcoin fundamental values dey intact. Its decentralized nature and increasing adoption still dey support di value. But with global economic concerns and U.S. tariffs looming, Bitcoin traders gatz dey ready for more fluctuations in coming weeks.
To wrap up, Bitcoin price today reflect wetin dey go on for cryptocurrency market wey dey face serious challenges. While immediate future look unclear, many people still dey see long-term hope for Bitcoin as a reliable store of value during tough economic times.
