Bitcoin trade wars
Litecoin Bitcoin Has Become a is the world's How War between US Bitcoin china trade war Any Currency - Only and Donald Trump just Trade War between US Bitcoin-Yuan Divergence Suggests New US vs China trade - Instant deposit of — A — How Bitcoin country's imports. 50 Billion was Influenced by the A rally in the funds - Top Solution. Aug 23, · Gold and bitcoin react to the U.S./China trade war. Credit: ADVFN. We can see gold getting a little lead on bitcoin (BTC) in London when the China retaliation news hits but look at Author: Clem Chambers. Sep 04, · “Bitcoin has been designed to be an eventual safe haven from government controlled currencies since its inception, but as trade and currency wars are being waged, more and more investors are looking for alternatives to avoid repeats of the last major bear market.”.
Bitcoin trade warsBloomberg - Are you a robot?
This move against the Chinese mobile giant is certain to provoke a catastrophic response from Beijing, and its effects will be felt around the world. The US has basically openly declared it is willing to engage in a full-fledged technology war with China.
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. Instead of the initial over Economists from the global banking giant also stated that they believed a recession to be likely.
In response, China has threatened to stop buying US agricultural products. The bank does not think a resolution likely in As part of the ongoing trade war, the US has accused China of manipulating its currency to damage the profitability of American exports. China denies doing this. Whatever the cause, the yuan has been depreciating in value against the dollar a lot as of late.
If such a theory is correct, Bitcoin may benefit greatly from the continuation of the trade war and a recession following it. If capital has already been flowing from the yuan to BTC, it stands to reason that it would continue during a prolonged trade war. To that end, bitcoin is not subject to the same forces as normal currency.
This is why people who feel less trust towards the government see it as an alternative, said Aries Wang, cofounder of Bibox, a digital asset exchange that uses artificial intelligence technology.
Take recent trading for example. Having an uncorrelated asset can be a good way to balance a portfolio, Kuo said. For example, he points out that an investor could have higher returns in bitcoin than gold, another safe haven asset that has hit recent highs. Countries experiencing currency issues have seen bitcoin trade at a premium on local exchanges, according to Daniel Dixon, cofounder of Interdax, a cryptocurrency trading platform focused on derivatives.
Despite the recent growth in global uncertainty, isolationism, and other driving factors, not everyone agrees that bitcoin — or even safe haven assets broadly — are a good bet right now.
Bitcoin has fundamental structural issues, he said, and one is its limited use today. Few would sell their house, car, or laptop for bitcoin he said. Even though US markets have been up and down as of late, he is still very bullish on equities for the next five to 10 years, he said.
While there are a number of global factors that warrant a closer look at crypto, there is at least one potential achilles heal that comes to mind: practicality. Bitcoin, while fundamentally deflationary and provably resilient to meddling hands by design, is not actually being used in the way that it was designed.
Satoshi mentioned in her whitepaper more than 10 years ago that one of the core tenants of bitcoin was that it eliminated the reliance on a trusted third-party.