Tariffs Spark Crypto Appeal as China, Trump Collide
The post Tariffs Spark Crypto Appeal as China, Trump Collide appeared on BitcoinEthereumNews.com.
Trump’s policy on international tariffs is unsettling investors globally. The US President announced more tariffs this week. Investors may explore crypto’s independence as a safety measure. The uncertainty in President Donald Trump’s economic policies and their potential impact on the international market has led analysts to predict that investors might turn to cryptocurrency for safety. Trump extended his tariff-increasing policy against major US trade partners this week, leading to severe repercussions in the international stock market. Asian stocks experienced a hit following statements from the White House that China would face a further 10% levy. Apart from increasing China’s levy, the US government confirmed that 25% tariffs on Mexico and Canada would go into effect on March 4 and hinted at a similar policy for the European Union soon. Global Market Shock & Crypto Slump Global markets tumbled this week following the statements from the White House. Tokyo, Sydney, Shanghai, Seoul, Singapore, Wellington, Manilla, and Jakarta markets were all in the red, striking fear among investors about the potential impact of President Trump’s relentless efforts that could trigger a trade war. Related: US vs. China Tariff Tussle: Crypto’s Dip or Hedge Shift? The negative impact of Trump’s new policies did not spare the crypto market, as Bitcoin led a market-wide decline falling below $80,000, registering a 27% loss from its January all-time high of $109,356. The rest of the crypto market followed Bitcoin, leading to a 30% drop in the overall crypto market cap per TradingView’s data. Analysts See Crypto as Possible Haven Though the crypto slump persists, analysts still view it as a potential haven for investors amid a brewing trade war. Because crypto is decentralized and not tied to a particular region, a government’s decisions that have geo-political implications will not directly impact its technology. Related: Trump’s 25%…
Filed under: News - @ February 28, 2025 2:21 pm