RATE Group | Bitcoin Holds $7K as China Sees First GDP Drop, Oil Lowest Since 1987
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Bitcoin Holds $7K as China Sees First GDP Drop, Oil Lowest Since 1987

18 Apr Bitcoin Holds $7K as China Sees First GDP Drop, Oil Lowest Since 1987

Posted at 04:28h in Bitcoin News by

Bitcoin (BTC) was fighting to keep $7,000 support on April 17 as China saw a historical GDP contraction and oil sank to prices last seen in 1987.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

BTC price uncertain at $7,000

Data from Coin360 and Cointelegraph Markets showed BTC/USD repeatedly testing the $7,000 mark as the week drew to a close, having reached highs of $7,195 on Thursday.

At press time, the pair circled $7,050 amid choppy conditions as traditional markets continued to shock investors.

Bitcoin 1-day price chart

Bitcoin 1-day price chart. Source: Coin360

Oil saw fresh woes despite last week’s deal to cut production. CFDs on WTI fell below $18 a barrel on Friday — matching their levels from 33 years ago.

“I believe oil can go as low as $10,” commentator Tone Vays confirmed in the latest edition of his Market Pulse YouTube series. 

Previously, it was United States President Donald Trump who publicly hinted that buying at $9 for a barrel would be successful.

At the same time, figures…

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