Bitcoin experienced a sharp decline following its record high of 104000 attained on Thursday. The cryptocurrency plummeted over 13 percent within hours of reaching this peak, coinciding with the announcement of a new crypto czar by Donald Trump.

This sudden drop raises questions about the impact of political decisions on digital currencies. As Bitcoin’s value fluctuates, the market watches closely to determine the next moves of investors and regulators alike.

The event showcases the intertwined nature of cryptocurrency and traditional political landscapes. Understanding these dynamics is critical for anyone involved in the crypto market to navigate potential uncertainties this creates.