The Bitcoin price has plunged below the $11,000 level, which came on the heels of the Trump administration delaying tariffs on Chinese goods until December.
On top of that, China's Ministry of Commerce announced that it would restart trade talks with the US in the nearest future.
Given that the worsening relations between the two economic superpowers served as an impetus, some had a knee-jerk reaction to call off Bitcoin’s bull run. However, Fundstrat’s boss Tom Lee remains as bullish as ever on BTC.
Yes. See plenty of positive runway for #bitcoin— Thomas Lee (@fundstrat) August 13, 2019
As reported by U.Today, Lee claimed that Bitcoin would reach touch $20,000 by the end of 2019.