The market for cryptocurrencies has dropped sharply. The total market cap shrank 11.8% to $2.86 trillion on March 4. It was a day when traditional markets also sold off hard. What caused the downturn? Part of the picture is that Donald Trump, the former U.S. president and a man not shy about throwing shade on the digital asset space, made a speech on March 4 that sent markets reeling. From the 4.5% drop Bitcoin had whilst assembling its latest lower high, a push to the upside was met with significant resistance at $44,000. The cryptocurrency subsequently dropped appreciably and pierced
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