Trump's Trade Barriers Crash the Crypto Market.

US President Donald Trump has decided to impose new tariffs on China, Canada, and Mexico, leading to serious turbulence in the cryptocurrency market.

According to Reuters, on February 2, the price of the world's most popular cryptocurrency - Bitcoin, fell below the $100,000 mark and is currently trading at $95,450, reports CoinDesk, citing Delo.ua.

This decline in Bitcoin's value has caused negative dynamics in the market, and most other cryptocurrencies have also lost value. Ethereum, for example, lost about 24% of its value and returned to the levels seen in early September - around $2,500. Currently, the price of Ethereum is $2,595.

Investors have stopped taking risks amid Trump's decision to impose trade tariffs on goods from China, Canada, and Mexico. The President has set a 25% tariff on goods from Mexico and most goods from Canada, as well as a 10% tariff on Chinese goods.

It is worth noting that on January 20, when Trump took office as President of the United States, Bitcoin reached a record high of $107,071.86. It has risen 40% since early November following the elections, as investors hoped for friendly regulations towards cryptocurrencies in the new administration.