The cryptocurrency market has collapsed again under the influence of political decisions, including the price of Bitcoin. Total losses of investors are estimated at tens of billions of dollars. Read about why the cryptocurrency market collapsed,

"Although the near-term remains choppy for Bitcoin, the long-term is becoming clearer by the day," Standard Chartered said.

XRP, the popular altcoin used to facilitate transactions on Ripple’s payment platform, fell 4.9% to $2.31—far off a high of $3.4 in mid-January. There are several reasons why crypto is losing steam. Volumes are low and market sentiment is taking a hit as Trump’s hasn’t yet lived up to promise to create a strategic reserve of Bitcoin.