The escalating trade war between the United States of Chinese has sent the global markets crazy, with Arthur Hayes, co -founder of Bitmex, believes that Chinese money can enter Bitcoin soon. BTC PRICE has already wore its lowest levels of $ 74,400, and is currently exchanging North of $ 80,000 from the time of the press. Investors are waiting for better negotiations in the commercial deal while leaving them behind volatility.
Arthur Hayes explains the reason for entering Chinese funds into bitcoin
Amid the uncertainty in global monetary trends, players in the market view the potential impact of China on Bitcoin. Arthur Hayes argues The decrease in the value of the Chinese yuan (CNY) can push capital flows to BTC, which leads to the revival of the direction seen in 2013 and 2015. With $ USDCNH approaching its highest level in five years, the whispers of potential political transformation acquire momentum.
Hayes proves the relationship between the weakest and the Bitcoin Blop. He stated that reducing the value of the currency, which is stimulated by independent monetary policy in China, is a strategic step by President Xi Jinping to maintain economic competitiveness. According to Arthur Hayes, this creates a bullish narration for Bitcoin, as the Chinese capital is looking for alternatives amid value reduction.
While many doubts that the leadership of China will mainly change its position, the current path of the yuan indicates that the authorities may soon intervene to arrest the decline.
Trade war tensions at a new rise
US President Donald Trump is not in a mood to retract his definitions, especially in China, as the largest global economies escalate the trade war. In more escalation, Trump has announced plans to impose an additional 50 % tariff on Chinese imports, making the total definitions of goods from China to 104 %. This would combine current definitions by 20 % and 34 % with a new tax.
The United States imports about $ 439 billion of goods from China annually. President Trump gave China until April 8 to cancel a 34 % tariff on American goods, warning that failure to do so would stimulate additional measures. However, Chinese officials issued a firm statement, announcing that they would “fight to the end” against the proposed definitions.
Where does the BTC price go after that?
According to the Bitcoin Sport style, the BTC price increased by decisive support and is currently trading by 4.54 % at 80336 dollars, as daily trading volumes increased by 85 % to more than 86 billion dollars. Bitcoin is likely to refresh towards the decisive resistance level of $ 85,000, a point where a significant sale can show.
The famous analyst at Crypto Rekt Capital also believes that the formation of Bitcoin Bottom can be in the midst of continuous market correction. To predict this, the analyst highlights historical trends in the daily relative power index (RSI).
According to the analyst, the current price levels, which extend to approximately $ 70,000, will be the lowest limits of this recession. The BTC prediction index indicates that it will flirt with about $ 77,000 next month.
Bushan Akolkar
Bhushan is enthusiastic about technology with a severe understanding of the financial markets. His interest in economics and financing has focused on emerging technology and encrypted technology markets. He is committed to continuous learning and remains eager to share the knowledge he acquires. In his spare time, Booshan enjoys reading excitement novels and sometimes exploring his cooking skills.
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
partner: