Bitcoin gets smashed in Asian trading

Please take a look at a chart of Bitcoin covering the price action since last Friday morning and you will see it rose into the 4pm London FX fix. As is often the case for BTC these days, the extreme high (or low) was set right on that fix, just above 106k. Well, as you might imagine, the news covered here earlier, regarding US trade tariffs, which sent the dollar higher helped BTC to crumble again ahead of the weekend. It fell back from that high point to below 102k. The price action early on Saturday was closer to 101,500. A modest rebound from there has since given way to further downside and BTC fell below 100k very early on Sunday morning. As the wider Asian markets reopened BTC crumbled below its 50 day moving average (then around 99,135) and hit a low at 96,795. A rebound to 98,660 then gave way to another wave lower. BTC fell to 96,591. Well, since then it has gotten smashed again and a little earlier this morning BTC fell to 91,304. This is all about risk aversion and the impact that has had on the riskiest asset of all. That explains the 15% slide, from the high to the low over the past 3 days. BTC is right now at 93,975