04.05.2020 BTC Daily Analysis

04.05.2020 BTC Daily Analysis

Bitcoin sold off at $9,000 all over again as investors anticipated the beginning of a new U.S.-China trade war atop the market-shattering coronavirus pandemic. On Sunday, Mr. Pompeo told ABC that Beijing stockpiled medical supplies in January while ignoring to share the potential impact of Covid-19 with the rest of the world. “We can confirm that the Chinese Communist Party did all that it could to make sure that the world didn’t learn in a timely fashion about what was taking place,” he added. Mr. Pompeo’s statements hinted that the friction between the U.S. and China is on the rise again. That was visible in the renminbi’s exchange rate in early Monday trading. The RMB fell 0.3 percent to 7.1561 per US dollar, its lowest in 45 days. ING’s chief China economist, Robert Carnell, said the drop could serve as a signal to another U.S.-China trade war.