Expert: The madness of the speculation sweeps the cryptocurrency market after the launch of the “Trump” currency

The new digital currencies launched by US President Donald Trump and his wife, Melania Trump, have raised widespread doubts between investors, even among those who usually bet against the market.

Carson Block, founder and CEO of Muddy Waters Capital, said in a previous interview that he would avoid dealing with these Mimal currencies.

He said: “These currencies have no fundamental value, they are just an indication of the amount of liquidity available and the spread of speculation fever, and at the present time all signals indicate this.”

He added: “The bet against something that is witnessing a speculative fever is a very bad idea, so I will not approach it.”

Acute fluctuations in currency rates

On Wednesday, the official Trump -FFicial USD was traded above the level of $ 27, after it reached its highest value at $ 73 a day before Trump’s inauguration, and the market value of this currency reached more than $ 5 billion.

As for the official Melania-Foldical USD, which was launched one day before Trump took over the presidency, it rose to about 5 dollars before it declined to about $ 2.30.

Trump’s steps towards the world of digital currencies

Trump Media and Technology Group announced on Wednesday its plans to expand financial services and possibly buy Bitcoin and other digital currencies, which led to the company’s share of 15%.

Investors criticism of the Mimi currencies

Despite the popularity of these currencies inspired by themes and popular culture, such as Dogecoin and Shiba Inu, they face widespread criticism from investors.

Greenight Capital David Einhorn recently stated that the market had reached the “Varketin stage”, in reference to the MIM coin bearing the same name.

For his part, Skybridge Capital, Anthony Scammochi, warned, during a previous interview at the World Economic Forum in Davos, that individual investors may find themselves “in trouble” due to the fluctuations of Trump currencies.

Trump reactions and digital community

When Trump was asked about these currencies, he said: “I do not know much about it except that I fired it, I heard that it was very successful, I did not follow it where I arrived today?”

Despite this enthusiasm, digital currency experts expressed their disappointment, and the founder of the Digital Assets Counsil of Financial Professionals Rick Edmans said: “The digital community feels slightly embarrassed by this.”

He added: “We must accept that this will be a side part of the march of developing digital currencies towards legitimacy, growth and access to billions of people around the world.”