Bitcoin Price Trending Higher as World’s Economic Order Derails3.6

On the day the US President Donald Trump announced tariffs on more than $300 billion worth of Chinese goods, he unknowingly woke up a bullish trend in a completely unrelated market.

Bitcoin, the world’s leading cryptocurrency, climbed more than 58 percent to hit $9,090 in May 2019, a month which parallelly saw US market’s benchmark indicator, the S&P 500 Index, falling by 6.58 percent — as concerns ascended over the worsening trade war between the US and China. At the same time, the Bitcoin market also performed exponentially better than the Nasdaq, the MSCI EAFE Index, and Oil, as shown in the graph below.

Original source

Add comment

Please Sign in to be able to leave comments.