NEW YORK — The price of bitcoin dropped below $100,000 late Thursday, just a day after topping the milestone for the first time.
The turn of fortune for bitcoin interrupted a rally set off by the election of former President Donald Trump, who is viewed as friendly toward cryptocurrency.
"As long as the narrative stays positive, there's always room to grow," Bryan Armour, the director of passive strategies research at financial firm Morningstar, told ABC News before bitcoin reached $100,000.
In a post on Truth Social early Thursday, Trump took credit for the gains: "CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU'RE WELCOME!!!."