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New Move from China to the USA: Bitcoin Plummets Again! - Coin Bulletin
With the announcement of new tariffs that China will impose on US products, the price of Bitcoin (BTC) fell again during the day, dropping to $74,600.
The price of Bitcoin (BTC) was trading at around 78 thousand dollars in the morning, drawing an independent picture from global stocks. However, the recent announcement by the Chinese Ministry of Finance was enough to shake the markets again. The ministry announced that additional tariffs would be imposed on U.S.-origin products starting April 10, and this news triggered a new wave of get dumped in many financial assets, especially Bitcoin.
After China's statement regarding tariffs, the price of Bitcoin dropped to as low as 75,800 dollars within a few hours. The new taxes of up to 104% imposed by the U.S. on Chinese products and the additional 25% customs duty imposed by Canada on U.S. cars triggered a retaliatory move from China, leading to a new wave of uncertainty in global markets.
The crypto investor is worried
Following the latest developments, cryptocurrency investors are worried about whether Bitcoin can recover in the short term. Analysts indicate that with the resurgence of global trade wars, investors' risk appetite has diminished and Bitcoin's "safe haven" role is being questioned again.
In the coming days, the impact of tensions between China, the USA, and Canada on the markets will be among the developments that investors will closely monitor. It remains uncertain how this process, which is critical for the short-term outlook of the cryptocurrency market, will unfold.