The market a few days ago collapsed, and analysts even bet on an arrival at $ 8,500. His tendency was suddenly downward, and on August 1, he reversed past $ 10,000 again. The question is: What motivated this bitcoin reversal? Will it continue to rise?
One reason we can cite as driving this was President Trump, who announced new tariffs to China, bringing back the trade war that caused the stock market to collapse. Trump claims a 10 percent tariff on another $ 300 billion in products imported from China. Given this, the stock market plummeted and the values that leave the traditional market migrate to cryptocurrencies, imputing the value of bitcoin.
Another reason we can address is the news that the US central bank cut the interest rate of the US economy by 0.25% for the first time in over a decade.
While there is a trade war, value migration to cryptocurrencies increases, and the tendency is to rise. So keep an eye out, as news can change the direction of a chart!