Bitcoin Down as Saudi Attack Raises Fears of Economic Crisis

By: Davit Babayan

Bitcoin was trading in negative territory on Tuesday as attacks on Saudi Arabia’s crude oil processing facilities weighed on the global economy.

The benchmark cryptocurrency dwindled by $74.49, or 0.73 percent, to $10,188.05 minutes after the London market open. The move downside extended bitcoin’s week-to-date loss to 2 percent, maintaining the ongoing sideways momentum. Elsewhere in the cryptocurrency market, assets appeared stronger. Ethereum, the second-largest cryptocurrency, registered 2.23 percent session gains. At the same time, fifth-largest cryptocurrency Litecoin also surged by a decent 2.27 percent.

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