Why Is Bitcoin Down? Blame Trump, Says Economist Paul Krugman

[Oshosondy]

I read on the news that this man is a Nobel Prize winner in Economic Sciences but why is he not seeing what bitcoin is than being like Peter Schiff which is only badmouthing bitcoin for his business.

You can understand his wrong speculation in brief:

Economist Paul Krugman said in a blog post that Bitcoin is suffering as President Trump's popularity plunges. Trump campaigned on helping the digital asset space, and has become closely linked to Bitcoin. The Nobel Prize-winning Krugman has long criticized Bitcoin—and this time is no different.

I have learned about this kind of people since few years ago after I know people like Peter Schiff, that you should not believe in anyone than to make your own research because they can use their knowledge to mislead you.

I have a post which will be a reference in the future about a man that talked about bitcoin, linking it to Trump like if people talk less of Trump and if Trump's influence reduces, that bitcoin price will also fall.

He will understand what bitcoin is later, but I know he can be like Schiff and see bitcoin price increase after Trump is no more the United States president and still talk bad of bitcoin.

Bitcoin will get to all time high again and again and so on after Trump is not more the United States president.

[serjent05]

Krugman blaming Trump for Bitcoin crash is part of a larger propaganda of turning people hates Trump.  I have read several posts on social media blaming Trump for everything.  I think this statement is for political agenda.

The current Bitcoin market situation has nothing to do with Trump.  The Bitcoin market is just following its normal flows where when reaching the ATH follows the price correction and if it is about to transition to bear market.

[fullfitlarry]

Then we can commend Biden as in his administration in 2021 that Bitcoin did hit $69k, a new all time high that time.

But then again Paul Krugman is a anti-Bitcoin, so obviously, he will blame everyone including Trump as for sure he could be a anti-Trump as well. And it just shows though that Bitcoin is not on one man's control even the President of a powerful nation.

The market works in cycle, it just so happen that we might be entering the bearish season so someone has to blame the sitting US President again.

[Byebyebtc]

Although Donald trump is part of the influences that pushed the price downward, his political development in his administration is a contributing factor, but that doesn't mean he is the cause, there are multiple factors that led to the reduction in bitcoins price, like macroeconomic pressures, market dynamics etc.
But one thing I know for sure is that in this factors Donals trump is also a part of it
But who know, him saying it that loud shows you that it is a political act, regardless of the concern of bitcoins current price

[Oshosondy]

Krugman blaming Trump for Bitcoin crash is part of a larger propaganda of turning people hates Trump.  I have read several posts on social media blaming Trump for everything.  I think this statement is for political agenda.

But why are some people that are learned doing something like this? But I know that bitcoin is enough to prove him wrong of what it is, but just that it will take time.

Although Donald trump is part of the influences that pushed the price downward, his political development in his administration is a contributing factor, but that doesn't mean he is the cause, there are multiple factors that led to the reduction in bitcoins price, like macroeconomic pressures, market dynamics etc.

Trump is never part of the reason, do not let short time news or happenings in the world let you think Trump is. I can accept that Trump could have helped in the price to increase, but in this price fall, it is something that is normal. Just like I have said, what will happen in the future will let people know as bitcoin continue to increase in price.

[yudi09]

Although Donald trump is part of the influences that pushed the price downward, his political development in his administration is a contributing factor, but that doesn't mean he is the cause, there are multiple factors that led to the reduction in bitcoins price, like macroeconomic pressures, market dynamics etc.
But one thing I know for sure is that in this factors Donals trump is also a part of it
But who know, him saying it that loud shows you that it is a political act, regardless of the concern of bitcoins current price

I think blaming Trump for the price drop needs to be reconsidered, even though Trump has influence over global market changes, not just the crypto market because he is the US president.
If he has done something bad, previous presidents also took actions that negatively impacted market developments.
Supply and demand cannot be ignored in all market price developments.

I don't think we've forgotten what happened during his run for US president and after his inauguration.
Reports like those cited by the OP seem to have political undertones. I don't know.

[justdimin]

I have learned about this kind of people since few years ago after I know people like Peter Schiff, that you should not believe in anyone than to make your own research because they can use their knowledge to mislead you.

I have a post which will be a reference in the future about a man that talked about bitcoin, linking it to Trump like if people talk less of Trump and if Trump's influence reduces, that bitcoin price will also fall.

He will understand what bitcoin is later, but I know he can be like Schiff and see bitcoin price increase after Trump is no more the United States president and still talk bad of bitcoin.

Bitcoin will get to all time high again and again and so on after Trump is not more the United States president.

We all know bitcoin movements are not because of Trump or Biden or anyone else. It would be, if they can do something that benefits everyone, like Biden with ETF period but it wasn't Biden that did it, it was SEC, so we can't even say it's HIM, it's USA for sure but not one person. Not one person can make that, all trump did was scam people with a scamcoin but that is about it, he has nothing else to do with bitcoin itself.

We have to realize people are not going to decide the price of bitcoin, maybe shitcoins but not bitcoin, no matter who you are, one person can't change bitcoin for good. We can have some pump and dumps because of them, sure, but not for long term impact of four year cycle, that will happen no matter who is president.

[coolcoinz]

Bitcoin is doing fine and economists don't get why that is because it doesn't act like a traditional asset.

According to the latest news, bitcoin was being manipulated by JP Morgan, that actually wanted to launch it's own bitcoin-based speculative product. JP spread fake news about MSTR being delisted from indexes. You can't trust these banks and people whose businesses are tied with bitcoin. Of course Trump's tariffs did not help, but there are many thins at play here, like the NASDAQ and gold going through a correction in a past weeks. I'd expect more from analysts than blaming it all on Trump.

[Richbased]

Bitcoin will get to all time high again and again and so on after Trump is not more the United States president.

With or without Trump actions i believe that bitcoin would have still experienced upwards and downward movement so we should forget about his influence in the market. Perhaps when he was elected into office it triggered the price to skyrocket so high so if he is now influencing the market negatively we should also bear it. Just 4 years for Donald Trump to leave office which means that all these Trump drama will end but they have been talking about Donald Trump, who knows what the next president will come up with such that Trump might even be considered a crypto friendly president regardless of all that has happened in the crypto market since he assumed office.

[AVE5]

I have learned about this kind of people since few years ago after I know people like Peter Schiff, that you should not believe in anyone than to make your own research because they can use their knowledge to mislead you.

I have a post which will be a reference in the future about a man that talked about bitcoin, linking it to Trump like if people talk less of Trump and if Trump's influence reduces, that bitcoin price will also fall.

He will understand what bitcoin is later, but I know he can be like Schiff and see bitcoin price increase after Trump is no more the United States president and still talk bad of bitcoin.

Bitcoin will get to all time high again and again and so on after Trump is not more the United States president.

Just a quick reminder about Donald Trump's criticism about bitcoin in the past and yet. bitcoin was doing just so well not until he somehow came to embrace bitcoin latter during his US presidential election rerun.

US President Donald Trump Says He's 'Not a Fan' of Bitcoin

Bitcoin was trading around $12,000 when the folk made the tweet.
He had also agitated that only US $ will be the only US currency given no hope for bitcoin Us reserve.

All being said, reverse was the case for him because he found the values in bitcoin and it momentum would be unstoppable by an entity or any institution.
So he latter became a bitcoineer pro and had also driven US to obtain bitcoin for their federal reserve.
This is just a hint that with our without Trump, bitcoin will keep excelling amongst it users and keep security the global crypto dominance.

[philipma1957]

Then we can commend Biden as in his administration in 2021 that Bitcoin did hit $69k, a new all time high that time.

But then again Paul Krugman is a anti-Bitcoin, so obviously, he will blame everyone including Trump as for sure he could be a anti-Trump as well. And it just shows though that Bitcoin is not on one man's control even the President of a powerful nation.

The market works in cycle, it just so happen that we might be entering the bearish season so someone has to blame the sitting US President again.

before joe biden left which was jan 20 2025 btc was at its ath of about 108k.

trump got it it dropped a bit and then went up to 126k in oct of 2025.


Trump = maga = evil

in the minds of 50% of america trump is evil.

trump loves btc

so 50% of america now have a hardon pressed against btc.

trump has made millions of btc haters that want btc to fail.

maybe BTC can overcome Trump and Maga dropping this partisan belief and anti maga anti trump people will believe in BTC as they should.

because BTC is a good thing not a maga thing

[retreat]

He sees Bitcoin as tied to Trump simply because Trump has been campaigning while bringing up Bitcoin. But we know that Bitcoin isn't truly tied to Trump or any other politician. It stands alone and has fundamental value that can keep it growing regardless of political figures or anything else. While in the short term, we may see Bitcoin's price boosted by Trump's so-called "pro-bitcoin" policies, this won't have a significant impact - the current situation is more influenced by investor psychology, which remains uncertain about volatile market conditions. But in the long term, Bitcoin's value can grow well, relying on it's fundamentals.

[adaseb]

Well there were two reasons for that crash on Oct 10.

The first one was the Trump tariffs that he threatened it shook the markets and crypto and stocks took a huge dive. Crypto was worse, especially alts because of bad liquidity in exchanges and there were a few coins which went -99% pretty much. Many people were liquidated.

Another was the MSCI move against MSTR. There is a chance that MsTR might be removed from many indices and as a result it led to people dumping the stock. If the decision in January is that they are allowed to operate as a fund then it’s good for crypto but if it’s the latter it’s bad.

[pooya87]

In certain fields we suffer from lack of real educated people who know what they are talking about. Economy is one of those fields which is filled with people who have very advanced degrees and a shelf full of awards and yet they have absolutely no understanding of economy. They are just experts in how to play in this broken system the best!
As Bitcoiners we usually only see it when these people say some nonsense about Bitcoin but it is also crystal clear from the outcome in the economy: high inflation, recession, inequality, terrible wealth distribution and of course the massive $38 trillion national debt that is growing a trillion dollar every 70 days!

With that said, I have to mention the title is correct even if the reasoning and associating it with Trump's popularity (did the convicted felon and pervert ever have any?) is wrong.

We already know how bitcoin is being affected by the global economy and specifically by inflation and recession. So any action that affects the global economy is going to also affect bitcoin market. Trump has been disrupting the global economy and the supply chain for months now (eg. the Tariff war with the rest of the world including China, starting multiple wars in different parts of the world, etc.). This affects the economy negatively and that affects bitcoin as well.

I speculated this over a month ago when price was still $110k, you can find it here. Read that topic and then read the news over the same period to see the connection.
For example in October the US regime is increasing tensions in the Caribbean Sea to disrupt the supply chain and threaten one of the important global trade routes by creating a militarized zone in this important Sea Corridor; and bitcoin stops rising up and reverses heading toward the $100k resistance. Each time US regime carries out a terrorist attack in the sea against fishing boats threatening the global security, there is a small drop in bitcoin market.
On November 13 the rogue regime names its terrorist operation (spear something!) and officially announce their intentions to invade the oil rich Venezuela; consequently bitcoin crashes to $90k in one day and continues going down all the way to $80k.

[Alpha Marine]

Trump has an indirect role to play, but just blaming him is not exactly accurate. His decisions and policies affect the whole economy and financial sector, and things like that affect Bitcoin too. In this regard, it's not just Trump, but world leaders, especially world leaders of significant countries.

However, I don't think you can blame Trump specifically for the price of bitcoin. If his government is causing political and economic unrest, the political and economic unrest affects the financial market and bitcoin with it.
So no, it's not because Trump's popularity has dwindled, which I don't believe it has. Bitcoin doesn't need the popularity of anybody to succeed. It has succeeded when there was no Trump in office and when Trump was against it in his first term.   

[Don Pedro Dinero]

Well, I'm not surprised by these things because Krugman is ideologically totally opposed to Trump. I'm not saying he's right or wrong, but we should bear in mind any pre-existing bias there may be.

Furthermore, despite being a Nobel Prize winner, he is also remembered for his historic blunders:

A winner of the Nobel Prize in Economics, Paul Krugman wrote in 1998, “The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law’—which states that the number of potential connections in a network is proportional to the square of the number of participants—becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.”

https://www.laphamsquarterly.org/revolutions/miscellany/paul-krugmans-poor-prediction

Another one:

Paul Krugman: The Economic Failure Of The Euro

If you look hard enough, you'll find plenty of his predictions that have failed, which shows that being a Nobel Prize winner in economics and what you say being wrong more often than a carnival gun is entirely possible.

[wiss19]

Then we can commend Biden as in his administration in 2021 that Bitcoin did hit $69k, a new all time high that time.

What about Trump? I think he made BTC to finally hit $100k. Biden must be a pro Bitcoin but I think he didn't hype BTC that much compared to Trump, although Trump is also the said reason for the BTC to dip.

But then again Paul Krugman is a anti-Bitcoin, so obviously, he will blame everyone including Trump as for sure he could be a anti-Trump as well. And it just shows though that Bitcoin is not on one man's control even the President of a powerful nation.

If he is anti Bitcoin then he must praise Trump for what Trump did to make Bitcoin fall down. Or maybe he now realize that people love it more when Bitcoin goes down? Yes, there is a cycle but really? Bear in the final moments of the year? I think that is a bit weird.

Although Donald trump is part of the influences that pushed the price downward, his political development in his administration is a contributing factor, but that doesn't mean he is the cause,
But who know, him saying it that loud shows you that it is a political act, regardless of the concern of bitcoins current price

A thing was a cause if it is been featured in the news. And they won't be in the news if the action they do is only minimal. So it make sense that they are being blame for the change.

there are multiple factors that led to the reduction in bitcoins price, like macroeconomic pressures, market dynamics etc.
But one thing I know for sure is that in this factors Donals trump is also a part of it

This one is indirect and the effect may not be huge as the direct one. And if we are talking about the economy, a government can make an impact to it but each economy of a country has their own government. It is not only Donald Trump that can make or break them.

[Fiatless]

Winning a Nobel Prize doesn't make Paul Krugman a compendium of knowledge. Trump campaigned with Bitcoin to get financial support and votes. Bitcoin doesn't depend on anybody no matter how powerful. Sadly, he governs the country with the biggest economy and the highest number of crypto businesses are located there. So his actions and inactions affect the global economy, thereby having some influence on the Bitcoin market.

Paul is a well-known Bitcoin hater. Relating the drop in price to just Trump's ratings is wrong. These were his comments about Bitcoin last year.

The truth is that Bitcoin, which was introduced 15 years ago, an eon in tech time, remains economically useless

https://decrypt.co/242478/bitcoin-economically-useless-paul-krugman-trump-vance

[LFC_Bitcoin]

I don’t think all the flip flopping and BS around tariffs has helped during 2025. Trump crashed crypto and stock markets by creating a trade war. Markets hate uncertainty so that has definitely watered down the Bitcoin bull run.

I’m not American but if I was, I would be a Republican. I just don t think Trump has been helpful to Bitcoin at all this year. We are about to end 2025 lower than when Trump got inaugurated so he hasn’t been good for it at all.

[Hardyrobust]

 It is wrong for anyone to believe that bullshit .Bitcoin is  not control by anyone , infact bitcoin has appreciated in value over time without anyone. Peter Schiff has failed to understand what bitcoin is,. making this kind of statement is denying the fact that bitcoin is decentralised in nature and also the freedom its offers . Donald trump has no control over bitcoin, it is Peter Schiff misconceptions that makes him feel so.