Bitcoin price drops 2% due to China's tariffs against the US. Learn about the impact on digital currencies and stock market.
Digital currencies plummeted early Wednesday after China’s retaliatory actions against the US, including probing Google and imposing new tariffs on American goods. As a result of China’s new retaliatory tariffs against the US, the price of Bitcoin fell by 2.5% to $99,500. In response to Trump’s 10% tariffs, China imposed 15% tariffs on US coal, natural gas, and 10% tariffs on crude oil, agricultural machinery, and heavy vehicles. This action came after a significant improvement in Bitcoin’s price from $92,000 to over $102,000 the previous day. Concurrently, the Nasdaq index also experienced a 0.6% decline.
