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Bitcoin Down as Trump Critisises Crypto

15 July 2019 Maria Gregoriou

The tumble of Bitcoin to as low as $9,872 over the weekend is said to be a result of a tweet by President Trump on Friday, according to CNBC. The tweet read "I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behaviour, including drug trade and other illegal activity."

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Market focus

  • Swiss government slashes 2019 growth forecast to 0.8% vs. 1.2% previous
  • Japan finance minister Aso: No currency provision included in US-Japan trade deal
  • China's home price growth at weakest in nearly a year - NBS
  • RBA Meeting's Minutes: RBA board would consider further policy easing if needed to support growth, inflation targets

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