RATE Group | Bitcoin price LIVE: BTC rising as Trump’s trade war brings China back to crypto | City &…
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Bitcoin price LIVE: BTC rising as Trump’s trade war brings China back to crypto | City &…

26 Jul Bitcoin price LIVE: BTC rising as Trump’s trade war brings China back to crypto | City &…

Posted at 08:53h in Bitcoin News by

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8.30am HEADLINES

Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.

Bitcoin is priced at $8,276 this morning with ethereum rising to $482 and ripple surprisingly flat at $0.46.

Was the recent bitcoin price rise sparked by events to the east?

With President Donald Trump tweeting his fury at China over intellectual property rights and trade deficits, wealthy Chinese nationals were busy stashing their cash in bitcoin according to Clem Chambers, the CEO of ADVFN.

Writing in Forbes, he said: “If the trade wars go into meltdown, then bitcoin will ‘moon’ because huge amounts of Chinese currency will be swapped for BTC as the yuan-denominated super-rich move to be hedged from the wealth privations of devaluation.

“Bitcoin, not gold, is and will be the asset they will run to first.”

Mr Chambers told Express.co.uk: “The Chinese currency, the Yuan, is being devalued to combat Trump’s tariffs. To get…

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