It is a truth universally acknowledged that even a most disagreeable global trade war may, in a curious twist of fate, serve as a boon for our modern wonder, Bitcoin—a safe haven now rivaling the venerable gold—thanks to its singular liquidity and unencumbered accessibility. 😉
Since the discomfiting declarations of President Trump concerning reciprocal import tariffs on April 2, the financial markets have resembled a rather wild ball, with record-breaking sell-offs in the traditional spheres and Bitcoin taking a genteel dip beneath the illustrious sum of $75,000. 🙄
While gold, that age-old refuge, still stands unchallenged in times of geopolitical distress, astute observers note that Bitcoin’s digital nature and ceaseless liquidity are beginning to charm even the most conservative hearts. 😏
“You want to store value in something other than U.S. assets. But you don’t want to own other nations’ currencies/debt/assets because they’re even weaker and you expect they’ll debase it,” said Hunter Horsley, CEO of crypto asset manager Bitwise, in an April 9 post on X. “You look around, and you see it: an asset that can’t be debased, is controlled by no country, and that you can take into your possession immediately. You wind up buying Bitcoin.” 🤭
Despite the effusive optimism that now surrounds this digital marvel, gold—our ancient and trusted companion—will, I dare say, continue to hold sway in the near term, as noted by the most discerning Miss Aurelie Barthere of Nansen crypto intelligence.
“Bitcoin is promising, but it’s still quite volatile, it could get there gradually. The PBOC has been shedding U.S. Treasury holdings and increasing gold reserves for years. Therefore, I expect this trend to accelerate regardless of the crypto narrative.”
On April 9, China’s Finance Ministry declared new tariffs of up to 84% on U.S. imports—effective the very next day—as a retaliatory measure against Trump’s earlier tariff impositions. One might observe 🤔 that such measures could well dissipate uncertainty and rekindle the appetite for daring assets like crypto.
Indeed, these tariffs serve as a counterstroke to the 34% levy on Chinese imports imposed by Mr. Trump on April 9.
Some of those most perceptive in industry regard Trump’s global tariff negotiations as little more than theatrical posturing, intended merely to secure an accord with China—a delightful possibility that may finally put an end to global trade uncertainty and allow risk assets such as crypto to rise anew. 🙃
China, Russia reportedly using Bitcoin for settlement
In certain enlightened circles, it appears that nations are already embracing the prospect of employing crypto assets for settlement in the realm of global trade. 😮
“China and Russia have reportedly begun settling some energy transactions in Bitcoin and other digital assets,” observed Matthew Sigel, head of digital assets research at VanEck, in an April 8 note. “These are early signs that Bitcoin is evolving from a speculative asset into a functional monetary tool.” 😜
Mr. Sigel further recounts other notable instances: from Bolivia’s ambitious schemes to import electricity via crypto, to the French utility firm EDF’s explorations in using surplus power to mine Bitcoin—truly a modern marvel. 😆
“These developments reflect a growing interest in neutral settlement rails, especially among economies looking to bypass the U.S. dollar,” he remarked with a knowing wink. 😉
Prior dispatches have intimated that Russia, ever resourceful, is indeed employing both Bitcoin and stablecoins for international oil trade, all in an effort to elude the onerous chains of global sanctions. 🤭
Moreover, Bitcoin’s evolving “volatility profile” suggests that our dear BTC may be steadily maturing from a risky dalliance into a veritable safe-haven asset, as asserted by the most erudite macro analyst, André Dragosch. 😊
While the prevailing uncertainties induced by tariffs may continue to inhibit risk-taking, one cannot but hope that forthcoming positive developments shall usher in a renewed investment in the crypto markets. 😇
As Mr. Michaël van de Poppe, founder of MN Consultancy, wryly imparted, “We’ll start to see the rotation toward the crypto markets in the coming period where there’s more calm and peace in the markets where investors start to buy the dip and understand that some things have been undervalued.” 😄
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2025-04-09 16:12