Bitcoin Prices Failed To Surge In August Amid Trade War Turmoil
Bitcoin prices did not rally sharply in August, even as trade war concerns intensified.
The digital currency did experience some gains during the month, rising more than 20% between August 1 and August 6, when its price surpassed $12,300, CoinDesk figures show.
The cryptocurrency started moving higher after President Trump tweeted his plans to impose additional tariffs on China, and received a boost when the Chinese yuan reached a more-than 10-year low against the U.S. dollar.
As August continued, bitcoin surrendered these gains, falling to as little as $9,325.39 near the end of the month, additional CoinDesk data reveals.