Trump’s Tariff ‘Liberation Day’ SHOCKS the World – Bitcoin Ready to Explode?
The recent imposition of reciprocal tariffs by the US government on some of its major trade partners, including China, the UK, and South Korea, has sent shockwaves throughout the global market. The announcement has had a ripple effect, with Europe showing a bearish signal of -0.31%, China at -0.18%, Japan at -3.19%, India at -0.21%, South Africa at -0.94%, and Australia at -0.93% in the daily chart.
Crypto analyst Michael van de Poppe has predicted that the demand for Bitcoin and altcoins may increase once the market fears and uncertainty subside. Despite the initial drop in the crypto market, with Bitcoin slipping by 1.2%, Ethereum by 2%, XRP by 2.6%, Solana by 4.4%, and Dogecoin by 2.1% in the last 24 hours, there is optimism that the market will rebound.
US President Donald Trump’s decision to impose tariffs on countries like Cambodia, Vietnam, China, India, South Korea, and the UK has further fueled market volatility. Trump defended the tariffs as a necessary measure to protect American taxpayers, labeling the announcement as ‘Liberation Day’.
The uncertainty created by the tariff announcement has led to a surge in the gold market, with prices reaching as high as $3,167.382 at one point. However, as market fears subside, experts believe that gold prices may decline as investors move back to riskier assets like Bitcoin and altcoins.
Michael van de Poppe’s analysis suggests that traders may have sold off their Bitcoin and altcoin holdings in response to the tariff fears but could now be looking to reinvest as the situation becomes clearer. Bitcoin has already shown signs of recovery, climbing from $82,543.74 to $83,021.56, with a bullish outlook for the near future.
In conclusion, the global market remains volatile in the wake of Trump’s tariff announcement, but there is optimism that Bitcoin and altcoins could see a resurgence in demand once the uncertainty fades. Investors are advised to stay informed and monitor market trends closely to make informed decisions in the ever-changing landscape of global trade.
