Bitcoin price was displaying fresh volatility May 6 as global political and economic factors sparked broad uncertainty across markets.
Bitcoin Comes Down From Weekly High
Data from cryptocurrency exchange Bitstamp, which tends to act as a lower benchmark for Bitcoin markets, put the cryptocurrency trading around $5600 at press time.
Bitcoin is down around 1.8 percent over the past 24 hours, having reached weekly highs of $5812 May 4.
BTC/USD 00 is currently trading near the bottom of its 3-day range, while longer-term performance remains strong. Over the past month, Bitcoin price remains up almost 12 percent.
The break in Bitcoin’s winning streak came on the back of panic inside traditional markets as US president Donald Trump unexpectedly announced new trade tariffs on Chinese goods over the weekend.
In a move which could heighten the likelihood of a trade war between the countries intensifying, Trump said he planned to raise 10 percent tariffs on $200 billion of Chinese imports to 25 percent.
The result was Asian…