Will Bitcoin Price Plunge Again as US-China Trade War Reignites?

The trade war between the United States and China commenced in January 2018. Following the imposition of tariffs on Chinese products in July of the same year, the price of Bitcoin (BTC) saw a significant decline of 31%, dropping from $8,487 to $6,000.

Currently, the U.S. and China may be on the brink of reigniting this trade conflict as tensions rise over the origins of the coronavirus. U.S. President Donald Trump recently indicated that the phase one trade deal “doesn’t feel the same to me,” suggesting that he may consider abandoning it.

As these developments unfold, there are concerns about the potential impact on Bitcoin’s price amid the renewed trade tensions.