Bitcoin’s immediate price can achieve great success after the American Federal Reserve recorded some of the worst manufacturing data in modern history, according to many cryptocurrencies.
On April 17, the Philadelphia Federal Industrial Reserve Index-Monthly Scan for 250 United States-based factories- I mentioned The most severe decreases in general commercial activity since 2020.
Bitcoin (BTC) data “under the short -term pressure”, bitunix researchers, is an exchange of encryption, He said In a post on the X. They added that Bitcoin could still see a “strong return” if its price exceeds 83,000 dollars per currency.
As of April 18, Bitcoin was traded at about $ 84,000 for the coin, according to Data From Google Finance.
The declining report of the Federal Reserve comes at a time when it is preparing for factories to influence US President Donald Trump’s plans to impose a comprehensive tariff on American imports, which may raise production costs for manufacturers.
“[I]Ndicators of general activity, new orders, and all shipments fell and transformed negative … suggested[ing] The wrong expectations of growth during the next six months, “The report He said.
Related to: Commercial tensions to accelerate the adoption of institutional encryption – executives
A bad omen for encryption?
Analysts said that a mixture of high prices and slow production could deal with financial markets, including cryptocurrencies. High prices limit the ability of central banks to support markets to decline.
“Economic activity is less than a cliff and any activity that remains, prices rise,” Felix Juven, the overall economy analyst Block Warx, He said In a post on the X.
that it “[a]”Bsolute is the worst scenario for politics here, especially with the lack of a useful idea of how permanent definitions,” he added.
However, Bitcoin was more flexible in the recent total economic shocks of stocks or other cryptocurrencies, Binance said in a research report in April.
Since Trump announced his introductory plans on April 2, Bitcoin has been circulated almost flat after it was initially decreased but more than 10 %, as Google Finance data appears. Meanwhile, the S&P 500 – the American stock index – is still 7 % low.
“Even in the aftermath of the recent tariff ads, BTC showed some signs of flexibility, and fixed the constant or apostasy in the days when the traditional danger origins stumbled.”
Trump initially sought to impose dual -number fees on almost all foreign goods, but later stopped on the striped tariff on some countries.
He still wants to put high taxes on many Chinese imports, causing fears between the CEO of encryption who fear that the trade war may harm Blockchain networks.
magazine: “Only the Terms is only taboo,” says Violetta Zeroni, who sold the song to 1 BTC.
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