Trump Sworn In As President. High Volatility on Bitcoin and Dogecoin💰

6:39 PM 20 January 2025

Following Trump's oath, the world's first cryptocurrency dipped below its 5-day exponential average (dark purple), not far from the psycholigical level of $100K. Although buyers have already helped Bitcoin regain some of its strength, the profit-taking attitude is still visible, with the price dropping off of the All-Time-High, reached earlier today.

 

Source: xStation5

 

Dogecoin, on the other hand, moved dynamically upwards once Trump mentioned the 'Department of Government Efficiency' (DOGE), as means to deal with 'corruption and bureaucracy' during his term. Elon Musk's favorite memecoin has already reverted back to the red, though the businessman's activity in Trump's administration might drive the volaitlity on the cryptocurrency further with concrete proposals and solutions being put forward.

 

Source: xStation5

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