{"id":392005,"date":"2019-08-02T12:00:44","date_gmt":"2019-08-02T12:00:44","guid":{"rendered":"https:\/\/ktsl888.com\/?p=392005"},"modified":"2024-06-11T13:46:14","modified_gmt":"2024-06-11T13:46:14","slug":"bitcoin-gains-as-trump-threatens-300b-tariffs-on-chinese-goods","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-gains-as-trump-threatens-300b-tariffs-on-chinese-goods\/","title":{"rendered":"Bitcoin Gains as Trump Threatens $300B Tariffs on Chinese Goods"},"content":{"rendered":"

The bitcoin price<\/a> soared higher on Friday after US President Donald Trump announced another $300 billion tariffs on Chinese goods.<\/p>\n

The world’s largest cryptocurrency touched the $10,527-high ahead of the European market open, posting up to 2.47 percent intraday gains. The upside action brought its weekly profit closer to 11 percent, accompanied by a decent rise in volume on spot exchanges. The move further influenced the rest of the cryptocurrency market to follow suit, with the combined altcoin market capitalization surging from $91.149 billion on July 29 to as high as $97.697 billion today.<\/p>\n

\"bitcoin,<\/a>
Bitcoin Up by 11% This Week | Image Credits: TradingView.com, Coinbase<\/figcaption><\/figure>\n

Meanwhile, global markets felt the pressure of Trump’s announcement. The Asian equity markets posted more than 1.4 percent losses, while their European counterparts opened 1 percent lower on Friday morning. US Futures, at the time of this writing, were also erasing their Fed rate cut gains, indicating a weaker session for the Dow Jones Index, Nasdaq Composite Index, and S&P 500 Index this Friday.<\/p>\n

The US Dollar Index also felt the heat of an escalating US-China trade war as it gave up its overnight gains to Trump’s tweets. It fell 0.14 percent to 98.23.<\/p>\n

\n

Our representatives have just returned from China where they had constructive talks having to do with a future Trade Deal. We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing. More recently, China agreed to…<\/p>\n

— Donald J. Trump (@realDonaldTrump) August 1, 2019<\/a><\/p><\/blockquote>\n