Two economic advisors from the former administration of former U.S. President Joe Biden, Ryan Cummings (Ryan Cummings) and Jared Bernstein (Jared Bernstein), published an article in The New York Times explaining why, in their opinion, the current president will not be able to help the crypto market. Economists described cryptocurrencies as having no value or meaning. Despite the loyalty of American authorities to cryptocurrencies and even the development of bills regulating them, the crypto market still faces difficulties. Currently, Bitcoin is trading at around $67 000, which is nearly half of its October all-time high, and such a crash of the first cryptocurrency is not the first time, Cummings and Bernstein reminded.

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