US President Donald Trump's recent comments about the possibility of canceling a meeting with Chinese President Xi Jinping have once again affected financial markets, especially the cryptocurrency market.
In his recent speech, Trump announced that the planned meeting with the Chinese president in Seoul may not take place, although he remains hopeful that a favorable agreement can be reached between the two countries.
This new uncertainty in US-China trade relations immediately triggered a market reaction, and the price of Bitcoin, which had risen to around $114,000 the previous day, retreated back below $110,000.
Trump had previously warned that if an agreement is not reached before November 1, he may increase tariffs on imports from China to 155%.
Trump's harsh stances have once again heightened concerns about the stability of the global market and the future of economic relations between the two great powers; factors that could lead to greater volatility in financial markets, including cryptocurrencies, in the short term.
