📰 News

Donald Trump Could Be Responsible for Bitcoin Price Surge

Donald Trump Could Be Responsible for Bitcoin Price Surge
Cover image via u.today

US President Donald Trump sent shockwaves around the globe after imposing 25 percent tariffs on Chinese imports. The heightened tensions between the two economic superpowers made the US stock market enter meltdown mode, but Bitcoin stayed above the fray.


Legendary Investor Mark Mobius Approves of Bitcoin

Legendary Investor Mark Mobius Approves of Bitcoin

Bitcoin as a hedge asset

While everyone is arguing about who’s going to benefit from the ongoing trade war, Bitcoin is shaping up to be a clear winner. The decentralized cryptocurrency, which is not controlled by any government, has proven itself to be a viable hedge asset during the times of financial instability.

According to Investing.com’s Jesse Cohen, Asian investors who were caught off guard by the tariffs decided to jump into crypto.

While it is hard to point at exactly what has caused the latest spike in Bitcoin prices, it’s not that far-fetched that investors, mostly in Asia, have turned to the cryptocurrency as a hedge against global political volatility arising from the ongoing trade war between Washington and Beijing,” Cohen suggested as the reason behind the BTC rally.   


This Expert Is Standing by His $100,000 Bitcoin Price Prediction

This Expert Is Standing by His $100,000 Bitcoin Price Prediction

It started in Japan

Before China became the main target of his campaign, Trump criticized Japan for ‘ripping off’ the US economy after the Nikkei infamously crashed during the late 1980s.

As reported by U.Today, UBS analysts predicted that Bitcoin could perform similarly to other bubbles, meaning that it might not retest its ATH ever again (the Nikkei is currently about 50 percent below its ATH).

deVere Group CEO Nigel Green is certain that Bitcoin isn’t likely to reach its current peak of $20,000, but he also predicts ‘steady rises’ due to growing public awareness about Bitcoin.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings