Todd Bishop
The price of Bitcoin has risen steadily. It has returned to the level of 6,000 yuan (US$ ‧ the same level) earlier. It has risen above 8,000 yuan this morning, the first time in 10 months.
The Sino-US trade war has continued to heat up, and the market has high-risk aversion. Investors have transferred funds from the stock market into the yen and gold. Bitcoin has also become a sought after investor. According to the quoted price of CoinDesk on the trading platform, Bitcoin once recovered the 8,000-yuan mark this morning, with a high of 8,418.56 yuan. The latest rose 13.57% to 7,977.01 yuan.
Some analysts pointed out that the New York City is holding a blockchain week, which will improve the market sentiment, and there will be a fund company to launch a cryptocurrency trading platform to support the continued growth of Bitcoin.
Bitcoin once saw a low of $3,122 at the end of last year. It has been at a low level, and then gradually recovered. It began to accelerate in April. After President Trump announced the imposition of tariffs on Chinese goods, the market expects that both sides will be difficult in the short term. A trade agreement was reached, stock market volatility, market risk aversion increased, and bitcoin rose more than 30%. In a few days, the company rose through multiple barriers.
