Bitcoin Price Loses $10.5K Support as US-China Trade War Tensions Cool
William Suberg's original article for cointelegraph.com reduced by 76%
Bitcoin price was feeling the pressure Aug. 14 after a fresh downturn saw the largest cryptocurrency settle below $10,500. Trade war tensions relief lifts markets, sinks Bitcoin price.
"Now that trade tension with China has eased, the pressure on the yuan is off. Those who bought Bitcoin to speculate on Chinese safe haven buying, which never happened, are taking their chips off the table," he tweeted Tuesday. A survey conducted by regular trader and analyst Josh Rager delivered a rare even split regarding the future Bitcoin price.
Altcoins break with tradition to stabilize against Bitcoin. Normally more erratic than Bitcoin, the day's trading was characterized by stability in altcoins relative to Bitcoin. Such as Bitcoin Cash and Bitcoin SV, even delivered modest gains over the same period.
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Summarised crypto news.