Bitcoin Steady as US-China Trade Dispute Hints Resolve
Bitcoin was steady on Tuesday as traders absorbed days of mixed signals over the state of trade relations between the US and China.
The benchmark cryptocurrency shed about $280, or 2.37 per cent, off its rate as of 11:30 UTC. It dropped to a session low of $10,361.65 on San Francisco-based Coinbase exchange, it had made during the Monday trading session. At its yearly high, bitcoin was trading at $13,868.44.
US-China Trade Fears Cool Off
President Donald Trump on Monday a possible settlement with Beijing at the sidelines of G7 Summit. He said China wanted to end the trade dispute “very badly,” claiming that officials from Beijing contacted the White House to discuss a resolution. The comments breathed energy into the stock market on Monday, especially after a sharp sell-off on Friday driven by tit-for-tat tariff tactics by both the US and China.
China wants to make a deal so badly.