tldr; On April 2, the cryptocurrency market experienced a sharp decline following President Trump's Liberation Day reciprocal tariff announcement. Bitcoin briefly surged above $87,000 before dropping to $83,662, while the total crypto market capitalization fell from $2.77 trillion to $2.61 trillion within hours, erasing $160 billion. A slight recovery brought the loss to $140 billion by April 3. The event highlights the market's vulnerability to external shocks and its increasing correlation with stocks, contrasting with gold's performance as a safe haven.
this post was submitted on 03 Apr 2025
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Can you speak of 'erasing' if this value was actually never there but just fantasy numbers?
Sure, but that logic applies to literally every market. Stocks, real estate, collectibles—none of it has 'real' value until someone buys or sells. Price is just the number buyers and sellers agree on at any given moment. So yeah, if Bitcoin’s value is 'fantasy,' then so is your 401(k) until you cash out.
Welcome to how markets work, friend.