Bitcoin hits new high, briefly tops $109,000 amid trade war, U.S. credit downgrade
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May 21 (UPI) -- Bitcoin initially rose to $109,857 in value during trading Wednesday morning as trade war tensions eased between the United States and China and a recent U.S. credit downgrade. "Bitcoin's new high has been concocted by an array of favorable ingredients in the macro cauldron," Nexo crypto exchange co-founder Antoni Trenchev told CNBC . "Softer U.S. inflation numbers, a de-escalation in the U.S.-China trade war and the Moody's downgrade of U.S. sovereign debt ... has put the
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