Bitcoin (BTC) has thus far flourished in 2019, surging 188% from its December lows of $3,150 to a recent high of $9,070 on May 30. This extremely bullish price action is contrary to the prices seen in traditional stock markets, as the world’s biggest economies have suffer from a minor financial downturn.
As reported by Tuur Demeester, the founding partner of Adamant Capital, Bitcoin’s bullish price action could be attributed to international macroeconomic issues that tend to have a direct impact on Bitcoin’s price.
Therefore, could Bitcoin be used as a hedge against an upcoming global market crash?
US-China Trade War Positive for Bitcoin
According to Demeester, the US-China trade war could be fueling this year’s bull run, as it is negatively affecting the Chinese yuan and appears…