Analysts Weigh In: Why Is Bitcoin Falling Lately?

shutterstock 680368252 Bitcoin Futures 800x600 1

Bitcoin has dropped severely this past week, falling from $11,700 about ten days ago to roughly $10,050 just yesterday. Now, it’s trading for just shy of $10,400, which means the currency has hiked itself up a bit in the past 24 hours, but it’s still a major fall. So, Why Is Bitcoin Falling All of a Sudden? One of the reasons could be because tensions over the U.S.-China trade war have seemingly loosened up a bit. At press time, some stocks are showing signs of recovery, and bitcoin – along with other assets like gold – are looked at as “shields” against economic downturns. Thus, it makes sense that bitcoin would suddenly spike over the last two weeks following announcements that President Trump would be enforcing further tariffs on approximately $300 billion-worth of items from China. Now, however, some of these fears and tensions are beginning to dissipate, which means…

Read the original article here