Bitcoin and other cryptocurrencies retreated from Monday’s highs as investor bullish sentiment around cryptocurrencies cooled following the president’s election Donald Trumpof the inauguration ceremony.

According to data from CoinGecko, the token “Official Trump” launched last week to represent the new leader of the United States plunged 26% in 24 hours. Meanwhile, a memetic token Published on Sunday Designed by First Lady Melania Trump, the price roughly halved in one day.

Bitcoin is trading at around $104,375, according to Coin Metrics. The price is off the lows of the past 24 hours, but below the high of $109,350.72 set before Trump was sworn in. CoinDesk 20 Indexhovering below the flat line.

Cryptocurrency investors hailed Trump’s arrival in the White House as a positive moment for the industry. The president has promised pro-cryptocurrency policies, including a loose regulatory framework and a federal Bitcoin reserve.

Although Trump is believed to benefit cryptocurrencies, his inauguration on Monday lacked any specific policy announcements regarding the industry. This appears to be the main factor that sent the cryptocurrency market spiraling out of control on Tuesday.

Morningstar principal Kenneth Lamont warned investors not to enter cryptocurrency trading without fully understanding the risks involved.

“If Donald Trump delivers on his election promises, we may see cryptocurrency markets continue to surge,” Lamont said in emailed comments on Tuesday. “However, investors would be wise to resist the fear of missing out and sit on their hands.” “

Cryptocurrencies are known to be volatile. Bitcoin, the world’s largest digital currency, has previously risen and fallen by thousands of dollars in a single day. Alternative coins, or “altcoins,” such as Ethereum and Ripple, have proven to be more prone to volatility.

“Fear of missing out is not an investing strategy. For many investors, the allure of easy wealth is strong,” Lamont said. He added that retail investors “tend to be bad at timing the market and find themselves at the worst possible moments.” Buy and Sell.”