Ethereum (ETH) is down round 33% since Eric Trump overtly predicted, “it’s a great time to add $ETH.”
Trump made the declare (which initially additionally stated “thank me later”) on February 3 by way of his X account. At that time, ETH’s value stood at round $2,877.32. Nonetheless, quick ahead 5 weeks, and it has dipped to $1,908.57 on the time of writing — a slide of simply over 33%.
The dip marks the foreign money’s worst February — a month when it historically sees stellar efficiency — since 2018, when it fell by just below 54%.
The Trump identify is seemingly changing into one thing of a jinx the place crypto’s involved. Earlier than taking workplace, Eric’s father, President Donald Trump, promised booming crypto markets, has since confirmed the institution of a Strategic Crypto Reserve and “Digital Asset Stockpile,” and has declared that america will change into the “Bitcoin superpower.”
Nonetheless, these proclamations have carried out little to reverse bitcoin’s slide — it not too long ago dropped to $78,313, down 27.9% from its all-time excessive again in January — or the continued poor efficiency of altcoins.
At the least Trump didn’t counsel promoting your organs
Eric Trump isn’t alone in handing out questionable crypto funding recommendation. Late final month, Technique supremo Michael Saylor went so far as to counsel that individuals promote their kidneys to maintain their bitcoin.
Nonetheless, as illustrated by WhaleWire CEO Jacob King, that now appears to be a monumentally dangerous concept.
Learn extra: Trump confused by Strategic Bitcoin Reserve he simply ordered
Writing on X, King says, “Let’s assume a kidney on the black market fetches round $150K, this might’ve purchased 1.376 BTC. At right this moment’s costs, they’d be down $42,700 (-28%).
“On the bright side, anyone who sold a kidney for Bitcoin is now a true lifetime HODLer — because they’re too busy hooked up to dialysis to panic sell,” he provides.
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