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Bitcoin's "Trump Bump" wiped out, loses half its value in 4 months [1]

['Rob Beschizza']

Date: 2026-02-06  

Bitcoin is edging up this morning, but after yesterday's rout has still lost all the gains of the second Trump administration. It's at $66,217, barely half of its october peak at $123,857. No, what's going on with Bitcoin?, asks CNN's, David Goldman. Crypto is always volatile, but things are getting out of hand.

What's strange is this: Bitcoin's four-month slump has come at a time when, in theory, it had everything going for it. Crypto bulls have long advocated that investors treat bitcoin as "digital gold," a new safe haven investment where traders can store funds when times are tough. So now would be a logical time for a safe haven to surge. … Bitcoin's bust means it lost its entire "Trump bump." Crypto investors cheered Trump's victory in November 2024, sending bitcoin and other cryptocurrencies surging, after Trump embraced the digital assets he once shunned, and instead pledged to remove regulations that he said were holding crypto back.

He doesn't reach a conclusion, but between the lines you might see the same forces pushing TSLA and making a mess of gold and silver: speculative assets traded by consumers living at the intersection of politics, retail investing, and the electric dopamine casino in their brains.

Previously:

• Mysterious $20k Bitcoin transfer to Satoshi Nakamoto's untouched wallet adds to its $117 billion frozen since creator's disappearance in 2011

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[1] Url: https://boingboing.net/2026/02/06/bitcoins-trump-bump-wiped-out-loses-half-its-value-in-4-months.html

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