Bitcoin resists the danger of a new trade war
Bitcoin remains below $ 9,000, and in recent hours it bounced below the $ 8,500 support. In just one week for halving the main cryptocurrency is resisting above USD 8,800, with a daily gain of just 0.4%. At the close of this note, BTC is trading at $ 8,859.
The week did not start in the best way for treacherous markets. The S&P and the Dow Jones presented losses of 3% , in a global context marked by the tension of a potential trade conflict between the United States and China , again .
The Secretary of State of the United States , Moke Pompeo , again linked the origin of the COVID-19 to a laboratory in the city of Wuhan , China. After paraphrasing President Donald Trump, Pompeo accused the Beijing authorities of concealing information about the virus and of refusing to cooperate with the international community in search of the vaccine .
These statements, which came after the own Trump threatened to terminate the agreement Phase One if China does not buy US goods and services by 200 billion dollars , put a little nervous crypto ecosystem in general. Investors and specialists fear a revival of the trade war between the two powers that, as we have already seen, would collapse the markets before unleashing.
"We are going to have to see what happens (with the purchases from China) due to what happened. They took advantage of our country. Now they have to buy and, if they do not buy, we will end the deal. Very simple," Trump had said.
Regardless, the benchmark cryptocurrency is still going through good morning. According to the company Argentina crypto advice, FICgroup a rise above the $ 9,300 revive the expectations of a leap 10K . However, a fall from below the USD 8,400 immediately lead to a regression towards 8000 . "This would really damage the bullish structure, but it would align with what happened the last times that the price reached the ceiling of the channel," they assured from FICgroup.
The altcoins market , meanwhile, reported small declines. Ethereum (ETH) fell 1.3% in the last hours and is currently trading at $ 204 . For their part, Bitcoin Cash (BCH) and Litecoin (LTC) fell 1.2%, trading at $ 246 and $ 46 , respectively.
Yep Trump needs to hold China to account in some way. They delayed advising the world, worked with WHO to deceive and stockpile medical supplies. On the market front, this will always cause more volatility but some sense of justice must be had. With USA opening economy states by state and sector by sector the dow will boom in Q3 and Q4. BTC will boom (halving) and ETH (2.0) too. And so BCH will follow the lead. :)