Donald Trump’s trade war’s fallout has robbed around $4,553 (5.5%) from Bitcoin price as the markets swing aggressively and billionaires are calling on the president to suspend his tariffs.
Bitcoin fell below $77,900 at noon Monday, from $82,400 on Thursday. (Trump officially announced his “mutual tariffs” on Wednesday after the market was shut down.) Prices for major cryptocurrencies remained relatively stable until Sunday, as global markets plummeted compared to key indicators.
Ether, the second-leading token, has been worse since Trump’s tariff announcement last week, bringing about 13.7% to $1,545.77 since Thursday. During the same period, Ripple’s cryptocurrency XRP fell around 7.7% to $1.86.
So far, Crypto Market’s response reflects the extent to which the prices of major tokens are associated with poorly-degree global market news.
Two overlaps: Monday at noon when Coinbase (Coin) and MicroStrategy (MSTR) fell 4% and 10.9% respectively. Similarly, Bitcoin mining stocks sank more than 10% on Monday as Hashpris (a measure of mining revenue) fell to $42.40 per Coindesk.
Since the beginning of the year, Bitcoin and ether have fallen by about 16.7% and 20% respectively.
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