Bitcoin critic and economist Paul Krugman stated in a blog post that the recent drop in Bitcoin's (BTC) price was not a coincidence, but rather related to the declining poll numbers of pro-cryptocurrency US President Trump. In his Substack article, "The Trump Trade is Unraveling," Krugman wrote that Trump's plummeting poll numbers negatively impacted Bitcoin's price. He argues that Trump's promises to support the digital asset industry and his push for pro-cryptocurrency policies have effectively made Bitcoin a bet on "Trumpism." He adds that President Trump's significantly diminished power has weakened his efforts to promote cryptocurrencies, thus affecting Bitcoin's price. Krugman has long been critical of Bitcoin, arguing that it is economically useless, neither a medium of payment nor a hedge against inflation, behaving more like a more volatile tech stock. (Decrypt)