NNA - Bitcoin slipped to a new three-month low on Wednesday, failing to stem the selling after Tuesday's tumble. Meanwhile, MicroStrategy (MSTR) has tumbled back all the way to where it stood on Nov. 7, wiping out almost its entire Trump-election rally. Last week's news of the biggest crypto heist on record dampened sentiment in the overall sector. In addition, talk of U.S. government purchases sending bitcoin to the moon has quieted down, at least for now.

There's much uncertainty about how aggressive the Trump administration will be in supporting bitcoin and cryptocurrencies, and the timing of any actions looks likely to be more drawn out than crypto traders initially hoped. However, crypto investors can breathe relief that the House was able to narrowly pass a budget resolution on Tuesday, a sign that Trump may be able to get whatever he wants.

The bitcoin price is sinking even as gold has recently climbed to a record. Bitcoin soared on Trump speculation, and the hacking news helped prick that balloon. Crypto exchange Bybit said $1.5 billion worth of cryptocurrency was stolen last week, reportedly by North Korean hackers.--agencies 

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