Bitcoin price: Slight fluctuations
Early this morning (October 15), Bitcoin - the world's largest cryptocurrency by market value witnessed a decrease of 1.87%%, down to 112,481.55 USD.
This new price contributes to bringing market capitalization to 2,242 billion USD, down 40 billion USD. However, trading volume in the 24 hours was at 85.01 billion USD with strong recoveries during the day.
Assessment and forecast
Bitcoin prices continued to decrease in this morning's trading session due to escalating US-China trade tensions. The world's largest digital currency has fallen about 2%, trading around $112,869.
The main reason comes from China's restrictions on Hanwha Ocean, a large South Korean shipbuilding company with a defense contract with the US government and a US shipbuilding plant. The move is seen as a response to President Donald Trump's 100% tariffs on Chinese exports to the US, raising concerns about rising trade tensions.
Bitcoin prices fell the most in the session to 3.7% as investors worried about the negative impact of trade retaliations on the economy and financial markets.
Uncertainty surrounding trade conflicts and signs of a decline in the US labor market have prompted investors to seek safe-haven assets.
In Vietnam, Bitcoin and other cryptocurrencies have not been recognized as a legal payment method and are not protected by law. Investors need to be cautious, avoiding risks from strong price fluctuations and fraud related to cryptocurrency.
