Bitcoin, Ethereum and the Widerer cryptoma market I experienced massive price accidents and decreased at stages that have not been seen for some time. This development is due to macroeconomic factors that have triggered a shaft of selling out at crypto dealers.
Why Bitcoin, Ethereum and the Wider Kryptomarkt crash today
Coinmarketcap data shows that the cryptoma market has dropped by over 10% in the last 24 hours. In particular, Bitcoin crashed by over 6% and has dropped to only 92,000 US dollars, while Ethereum has fallen by 20% and has dropped to 2,400 US dollars. This price accident follows us President Donald Trump Customs in Mexico, Canada and China.
At the weekend, Trump announced a 25% tariff to imports from Mexico and Canada and 10% for imports from China. The US President Also threatened to impose the European Union (EU) tariffs. In response to this development, Mexico and Canada also imposed retaliation duties to the United States. In the meantime, China has also threatened to react to these tariffs.
This has waged a potential trade war that is bearish for risk assets such as Bitcoin, Ethereum and other cryptocurrencies. Trade wars could have a negative impact on the economy of the countries in question and have expressed concerns about stagflation and recessions. In this sense, the dealers have moved to derive their coins out of fear of the unknown.
Known author and financial expert Robert Kiyosaki had warned About an upcoming crash for Bitcoin, Ethereum and the Wider Krypto market due to these tariffs. However, he added that this was an opportunity to buy these assets for sale rather than in panic. According to him, the real problem is the debt that is only worse. As such, he expects these crypto assets to become more valuable over time.
Bitcoin, Ethereum and the broader crypto market are still risking that they suffer more pressure depending on how the stock market reacts to these tariffs. In addition, institutional investors are invested in Bitcoin and Ethereum by ETFs, which could trigger another wave of sales factors if they unload their shares to this fund.
Donald Trump gets under fire
Members of the crypto community have criticized Donald Trump because the US US President indirectly contributed to the downward trend that Bitcoin, Ethereum and the Wider Crypto market were confronted. Before there was a bearish feeling on the cryptom market Strategic Bitcoin reserve.
Although Trump signed an executive order that increased the possibility of creating A National crypto stockMarket experts such as the research director of Galaxy Digital, Alex Thorn, have stated that this inventory is far from receiving a strategic reserve. In the meantime, Trump was also criticized for the creation of his Trump Meme coin, from which it is assumed that she drained the liquidity of Bitcoin, Ethereum and the wider crypto market.
Selected picture of Unsplash, diagram of tradingview.com