- Ethereum has plummeted approximately 33% since Eric Trump’s February endorsement, dropping from $2,877 to around $1,908.
- This marks Ethereum’s worst February performance since 2018, despite the month typically delivering strong returns for the cryptocurrency.
- The broader Trump crypto endorsement effect appears consistently negative, with Bitcoin also down 27.9% from its January all-time high despite Donald Trump‘s “Bitcoin superpower” proclamations.
Ethereum investors who followed Eric Trump’s investment advice are nursing substantial losses, as the cryptocurrency has plunged 33% since his public endorsement. On February 3, the former president’s son declared on X that “it’s a great time to add $ETH” alongside a “thank me later” quip that has aged particularly poorly given the asset’s subsequent performance.
When Trump made his recommendation, Ethereum was trading at approximately $2,877.32. Five weeks later, the second-largest cryptocurrency by market capitalization has cratered to $1,908.57, representing a one-third reduction in value for anyone who followed his guidance.
February’s performance is particularly disappointing for Ethereum holders, as the month has historically delivered positive returns. This year’s decline represents Ethereum’s worst February showing since 2018, when it experienced an even steeper 54% drop.
The apparent “Trump crypto jinx” extends beyond Eric to his father, former President Donald Trump. Despite campaign promises of flourishing cryptocurrency markets and recent actions including the establishment of a Strategic Crypto Reserve and pledges to transform the United States into a “Bitcoin superpower,” the flagship cryptocurrency has struggled to maintain momentum.
Bitcoin has retreated to approximately $78,313, representing a 27.9% decline from its January all-time high. Alternative cryptocurrencies continue to underperform as well, suggesting that presidential endorsements have limited market-moving power.
## Questionable Crypto Advice From Public Figures
Eric Trump’s misguided Ethereum tip pales in comparison to some other cryptocurrency investment advice circulating in the space. Michael Saylor, known for his aggressive Bitcoin accumulation strategy, reportedly suggested that people should consider selling their kidneys to maintain their Bitcoin holdings.
WhaleWire CEO Jacob King illustrated the potential consequences of following such extreme advice. According to King’s calculations, “Let’s assume a kidney on the black market fetches around $150K, this would’ve bought 1.376 BTC. At today’s prices, they would be down $42,700 (-28%).”
King added a darkly humorous observation: “On the bright side, anyone who sold a kidney for Bitcoin is now a true lifetime HODLer — because they’re too busy hooked up to dialysis to panic sell.”
The ongoing market correction highlights the risks of making investment decisions based on celebrity endorsements or public figures’ advice, particularly in the volatile cryptocurrency sector where even seemingly bullish catalysts like governmental support can fail to prevent significant price declines.
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