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Bitcoin continues decline to $77k
The price of Bitcoin has fallen to $77,158.52 as of 11:30 AM WAT on Monday, April 7, following newly imposed trade tariffs by President Donald Trump on all goods being exported to the United States. This price drop, according to data from Blockchain, marks a significant decrease from its opening price of $94,419.76 at the start of the year. Bitcoin has now lost 18.28 percent of its value, erasing approximately $291 billion in investor funds.
The cryptocurrency is currently trading 6.65 percent lower than its closing price of $83,504.80 on Saturday, April 5, 2025. Bitcoin had experienced a surge in the wake of Trump’s election victory, as the president, who had been supportive of cryptocurrencies, promised to position the U.S. as a Bitcoin superpower. However, the recent escalation of trade tariffs and growing concerns about slowing economic growth have put downward pressure on the digital currency.
Bitcoin is now facing its worst first-quarter performance since 2018, according to Dow Jones Market Data. Despite the downturn, some analysts remain optimistic about a potential rebound. Valentin Fourner, an analyst at BRN, noted, “Despite near-term volatility, uncertainty is decreasing, and institutional buying pressure is returning. With key catalysts aligning, we expect Bitcoin to rebuild momentum and make another attempt at $90,000 in the near future.”
Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.
She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others
