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20 Jan, 07:00

Bitcoin price down to $99,000 amid launch of Melania Trump's cryptocurrency

By 4:00 a.m. Moscow time (1:00 a.m. GMT), on January 20, the price of Bitcoin had dropped to $99,08

MOSCOW, January 20. /TASS/. The price of Bitcoin has dropped below $100,000 amid the launch of Melania Trump's meme coin, according to Binance platform data.

In particular, as of 11:00 p.m. Moscow time (8:00 p.m. GMT) on January 19, the Bitcoin price amounted to $106,422. By 4:00 a.m. Moscow time (1:00 a.m. GMT), on January 20, the price of Bitcoin had dropped to $99,08.

Memecoin is a cryptocurrency being created as a social experiment. Its price depends on popularity of the phenomenon it is based on. For example, Political Finance (PolitiFi) memecoins are inspired by political figures. The price of memecoins depends on the level of the politician’s support. Cryptocurrencies of this format have no value or modes of application, being a speculative financial instrument.