The price of the crypto giant, Bitcoin, fell towards the $90,000 level in trading this week after approaching to open a six-figure position. The market lost about $200 billion from the combined market value of $3.2 trillion.
In addition, the United States (US) policy that shook Wall Streets next year dragged anxiety among investors after crypto billionaire, Michael Novogratz warned that it could fall to the $80,000 level.
Novogratz predicted a drop in the price of Bitcoin after Donald Trump's victory, which provided a high shift and the market would immediately take profits after it peaked.
He also said that almost all of his administration's cabinet owns Bitcoin as a support for the digital asset and he believes the crypto giant will surpass $100,000 in the future.
The price of Bitcoin and crypto has surged since the election of Donald Trump as president, which is widely seen as a sign of easing strict regulations that crypto companies have complained about restricting the industry and the market.
Dan Morehead, founder of bitcoin and crypto investment firm Pantera, has predicted that the incoming Trump administration could help Bitcoin's price reach $740,000 by April 2028 and a market capitalization of $15 trillion.
