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Investors expect an exacerbation of the China-U.S. Trade war over the coronavirus. This could affect the price of bitcoin, which previously fell below $ 9,000. Bitcoinist reports it.
The day before, bitcoin hit $ 9,203, but its market value subsequently dropped to just over $ 8,600.
TradingView Bitstamp BTC / USD Chart
One of the reasons for the price pressure on BTC may be the worsening of relations between China and the United States. United States Secretary of State Michael Pompeo claimed the artificial origin of COVID-19 and also accused Chinese authorities of concealing information about the coronavirus.
Pompeo did not specify whether he considers China guilty of the deliberate spread of the coronavirus. However, investors perceived his speech as a signal to exacerbate the trade war between countries. Additional stress in the economy may lead to a drop in the S&P 500 index, the correlation with which bitcoin hit a record high.
Remember, on May 12, a bitcoin halving will take place. Many investors hope that this event will have a positive effect on the price of BTC.
Previously, the bitcoin hash has updated its historical record in advance of half.
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