$TRUMP meme coin loses 85%, raising crypto investment concerns

The $TRUMP meme coin has seen a dramatic drop in value, falling 85% from its highest point. This collapse raises concerns about risky investments in cryptocurrency. As of Friday morning, the coin was trading at $11.07, down from its peak of $75.35 on January 19, 2025. Economist Peter Schiff has criticized the rise of the $TRUMP coin, warning that many Americans could lose money in crypto due to Trump's influence. He pointed to the coin's decline as an example of the risks involved for investors in the digital currency market. Schiff believes that people are being drawn into speculative investments that could lead to significant losses. Schiff also highlighted the relationship between Bitcoin and tech stocks. He warned that if the Nasdaq stock index enters a bear market, Bitcoin's price could drop to $20,000 or even lower. He noted that past downturns showed the Nasdaq can decline significantly, potentially accelerating Bitcoin's fall. He suggested that confidence in cryptocurrencies like the $TRUMP meme coin could diminish if Bitcoin crashes. Schiff has consistently been a critic of Bitcoin, arguing that it does not serve as a reliable store of value. His warnings indicate that the crypto market could face further challenges in the near future.