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Bitcoin plummets as tariff fallout spreads

The price of Bitcoin fell by around 5pc on Sunday amid the growing fallout from Donald Trump’s trade war. The world’s largest and best-known cryptocurrency tumbled to just under $79,000 (£61,500) by the end of the weekend, way below its peak of $106,000 in the wake of the US President’s election victory. Etherium, the second biggest cryptocurrency globally, also slipped by around 9.6pc to just under $1,618. The sell-off signals another potentially turbulent week for investors, as stock markets b

How Might New Tariffs Affect Bitcoin?

Bitcoin (CRYPTO: BTC) fell by 5.4% on April 3 as the Trump administration's newly announced tariff policies were digested by the market. Now, with economic uncertainty sky-high and investors looking for havens from the turmoil, it's an open question whether the tariffs might deal severe harm to the cryptocurrency sector -- or if crypto might just end up getting dragged down along with everything else. The first thing that investors need to realize -- if they don't already -- is that Bitcoin is not something that's commonly used as a medium for processing international trade payments.