13:18
3
min at reading ▪
The price of bitcoins dropped below $ 100,000 after the announcement of Chinese new customs taxes on US imports. This decision, which is part of the context of the increasing tension of the trade between the two powers, caused a shock wave on the markets. Analysts are afraid of increased volatility times unless they do not proceed to the Chinese American negotiations.
China will harden its commercial position against the United States
The Chinese Ministry of Finance has just announced its response to US measures. Since February 10, Beijing requires 15 % of liquefied coal and natural gas and 10 % on oil, agricultural machines and certain vehicles imported from the United States.
This announcement comes after Donald Trump granted a 30 -day stay in a total of 25 % planned for Canada and Mexico. China remains the subject of 10 % of prices stored 1 February. In addition to these taxes Beijing announced the limitation of exports of strategic metals such as tungsten and molybdenum, necessary for the technology industry.
These measures of retaliation, which are justified by the accusation of Washington of the rape of the WTO rules, are threatened by the world supplier chains. The technological and energy industries are particularly vulnerable and the crypto market, considered to be a risk asset that reacts to this tension between the first two economic powers.
Bitcoins fall for commercial retaliation in China
Bitcoin has published high volatility since Monday and dropped to $ 92,800 before returning to $ 98,400. If the suspension of customs tariffs for Mexico and Canada briefly assured markets, the announcement of Chinese retaliation now weighs courses.
Min Jung, analyst of PSESTO Research, explains that ” Cryptocurrencies react as traditional actions in the face of geopolitical tension. Volatility will persist until the situation remains tense. »Justin D’Anethan de Liquifi draws attention to a possible domino effect if the commercial conflict expands to Europe.
For Nick Ruck, director of LVRG Research, the lack of agreement between Washington and Beijing could draw new losses. These tensions question the state of the attack on bitcoins, now more sensitive to geopolitical risks.
In short, this new agreement obliges investors to review their strategies, while Trump has just created a National Sovereign Fund focused mainly on the potential takeover of Tiktoku.
Maximize your Cointribne experience with our “Read to Earn” program! For each article you read, get points and approach exclusive rewards. Sign up now and start to accumulate benefits.
Passionate Bitcoin, I like to explore meanders blockchain and cryptos and share my discoveries with the community. My dream is to live in a world where privacy and financial freedom is guaranteed for everyone, and I firmly believe that Bitcoin is a tool that can make it possible.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.