gtag('config', 'G-0PFHD683JR');
Crypto News

The encryption market, as Donald Trump exempts technology from the customs tariffs on China

The encryption market, led by Bitcoin, recovered after Donald Trump’s decision to exempt technical products from the definitions imposed on China and other countries. Market participants believe this is positive amid the continuous trade war between the United States and China.

The encryption market is committed, as Donald Trump exempt technical products from the customs tariff

The encryption market increased after Donald Trump moved to exempt technical products from mutual definitions imposed on China and other countries. According to CNBC reportThe US President exempted phones, computers and chips from the new definitions.

The price of Bitcoin has increased beyond $ 85,000 in the wake of this report, as Altcoins also recorded great gains. There is no doubt that this development is optimistic about the market because it reduces the severity of the definitions that Trump imposed on almost all countries earlier this month.

Moreover, this represents a major victory for the stock market, with companies like Apple, the largest beneficiaries of this exemption. As such, it is normal for the encryption market to refresh besides it, given the bitcoin connection with the stocks.

Meanwhile, this step can also be the beginning of the end of the continuous trade war between the United States and China. As Coingaa said, China announced yesterday a 125 % tariff for US imports after the latter’s decision to impose a 145 % tariff on Chinese goods.

Trump has already mentioned that he is looking to make a deal with China, which is also positive in the market. Bitcoin and Altcoins can witness another large gathering once this happens.

The reform stage can end soon

In the newly postponed X, encryption analyst Kevin Capital suggested that the reform stage can soon end for the encryption market. He pointed out that this stage has gone so far according to the plan. However, he warned that there is still a lot of work to do.

The analyst believes that it is important for bitcoin to scan $ 89,000 before the market participants begin to feel satisfied. He added that the macro side also needs to classify things to start the good appearance of the market.

It seems that the macro side is progressing well as the Federal Reserve recently revealed plans to provide liquidity if necessary. Meanwhile, the latest inflation data at the consumer price index and PPI are less than expectations, which may also stimulate the Fed to start alleviating money policies.

Rekt Capital has warned that Bitcoin was not yet. He stated that it would be necessary to close a weekly over $ 86,000, as BTC is likely to repeat the outbreak of the middle of 2011. However, the main encryption is still far from the weekly closure issued at 86,811 dollars.

image

partner:

Boluwatife Adeyemi

Boluwatife Adeyemi is a writer and editor of encryption news that covered topics that exceed many topics and ports. Boluwatife has a talent to simplify the most technical concepts and make it easy for the novice encoded. Away from writing, he is a fan of thirsty basketball, traveler and part -time.

Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button