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Friday, May 19, 2017

Bitcoin Price Surpasses $1,820 As Trump Troubles Lead to US Uncertainty

Bitcoin Price Surpasses $1,820 As Trump Troubles Lead to US Uncertainty

After peaking at $1,840, Bitcoin price stabilized in the $1,820 region earlier today on May 18. The recent surge of Bitcoin price seems to be largely affected by the economic uncertainty of the US, caused by troubles surrounding the Trump administration.

Donald Trump sent jitters down the spine of the world’s political and financial elite from the day of his inauguration when Bitcoin price immediately shot upward.

Bloomberg reported that major US stock indexes had their worst session in eight months while world’s 500 most valuable billionaires have lost $35 bln due to the Trump administration’s turmoil and the US economy’s underwhelming performance.

Amazon’s Jeff Bezos and Facebook’s Mark Zuckerberg shed $3.7 bln as the Dow Jones Industrial Average dropped by more than 370 points.

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