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#BTC Market Cap Hits ATH# Trump's blow to Bitcoin: Prices fell sharply.
The cryptocurrency market experienced a sharp decline following US President Donald Trump's customs duty announcement against the European Union.
Trump, in a post he made today, said, "Our talks with them are not going anywhere," and suggested that a 50 percent customs duty be imposed on EU-origin products as of June 1.
Bitcoin, which reached an all-time high of over $111,000 yesterday, fell to $107,337 after this statement. BTC, which was trading at $110,880 before the post, lost over 3 percent in value in a very short time.
Trump had previously caused a decline in Bitcoin with customs duty announcements against different countries, and then the market recovered with temporary trade agreements.
Bitcoin is trading at $108,284.