Trade war and Bitcoin is a decentralized digital presentness without a central bank or single administrator that give the sack stand for dispatched from someone to user on the peer-to-peer bitcoin network without the necessary for intermediaries. Transactions are verified away network nodes through cryptography and recorded in a public. Bitcoin and Gold open positions spiked during trade war | Source: eToro At the same time, open positions in the Gold market, a traditional safe-haven, also surged but by a modest 73 percent. Safe-Haven Markets’ reaction to last year’s trade war was a booming demand for Bitcoin. Bitcoin attracts BIG safe haven money as China readies to lower the axe on USD. While Anthony Pompliano, co-founder of Morgan Creek Digital tweeted out yesterday: Bitcoin is the best safe haven currency in the world. JP Morgan is telling people that the trade war between the US and China could boost safe haven currencies.
Trade war bitcoinBitcoin Is Already Winning the US and China Trade War
Bitcoin could undergo significant growth in demand as prospects of a new trade war looms over the global market sentiment. World leaders, including U. Sokulsky said that the latest conflict could begin a new trade war, one that would be much worse than the one between the U.
The veteran analyst further noted that a grim geopolitical climate would also slow global economic growth further. The media mogul cited data from eToro, an online brokerage platform, that showed bitcoin open positions spiking by percent. It was the same period that saw Trump and Xinping beating each other with tit-for-tat trade tariffs. Bitcoin and Gold open positions spiked during trade war Source: eToro. At the same time, open positions in the Gold market, a traditional safe-haven, also surged but by a modest 73 percent.
In the current year, when the coronavirus pandemic has put global economic growth under stress — and has prompted central banks to print an endless amount of protection money — more and more investors are choosing Bitcoin as their hedge against macroeconomic issues and inflation risks. Could you be next big winner? I consent to my submitted data being collected and stored. Instead of the initial over As stocks plummet amidst this dangerous game in which there can only be losers, all the action is giving Bitcoin a boost.
Max Keiser commented on the billion-dollar Bitfinex fundraise:. JP Morgan is telling people that the trade war between the US and China could boost safe haven currencies. The Chinese Yuan hit a five-month low against the dollar yesterday, depreciating by more than 6.
Bitcoin is winning the trade war while China and US is a lose-lose pic. A weak yuan, a high dollar, the certainty of Chinese retaliation, and growing supply pressures on crude oil pushing up its price, are all causing a perfect geopolitical storm for investors to seek safe harbor assets. While Trump looks hell-bent on carrying on with his game of Russian Roulette with China, Bitcoin is proving to be a safer bet.
Will Bitcoin price keep climbing amid growing rift between US and China? Share your thoughts below! Could you be next big winner? I consent to my submitted data being collected and stored.