What is after the encryption market like China, the European Union announces revenge customs duties on American goods?
The encryption market is currently in a state of uncertainty and risks the negative aspect, as China and the European Union declare revenge definitions on American goods. Some analyzes indicate that the market can decrease, led by Bitcoin, while others indicate that this may be the bottom, regardless of whether the trade war continues.
What is the following for the encryption market like China, the European Union announces customs duties
The encryption market is an additional risk, with bitcoin drop to its lowest levels after China and the European Union announced the retaliatory definitions of American goods. According to CNN reportChina has announced 84 % of the customs tariffs on American imports, which will become valid as of April 10.
Meanwhile, the European Union has announced plans to impose a 10 % and 25 % tariff on US imports, effective April 15. As COININAPE, the Crypto Market witnessed another accident yesterday after news that the United States will impose a 104 % tariff on China, which entered into force today.
The encryption analysts, such as Rekt Capital, suggested that the price of bitcoin decreases in the short term amid this tariff war. In the X Publishing, the Rekt Capital stated that BTC is witnessing a negative continuation after the upscale at the lowest weekly levels in early March.
He added that after this red level confirmed that it is a new resistance, the price of bitcoin is now declining to the size of $ 71,000 to 83,000 dollars to fill this market’s inefficiency.
Meanwhile, Credbull Crypto suggested that BTC can still decrease to absorb liquidity at the highest time demand between $ 69,000 and $ 74,000.
The upcoming issue of the market
Market expert Anthony Boxbrano once again raised the possibility of the American Federal Reserve in the tariff war by announcing an emergency reduction rate. PoxPyiano noted that the increasing 10 -year return is likely to pay the federal reserve closer to an emergency acting.
As Coingepe mentioned, Federal Reserve Chairman Jerome Powell can announce the emergency rate reduced as Trump’s tariff continues. This will be optimistic about the encryption market, as the US Central Bank’s monetary policies will pump more liquidity into encryption assets.
US President Donald Trump recently stated that it is a great time to buy, which could represent the minimum market. Mikebull Crypto indicated that the president had made the same statement on two occasions, which was the bottom.
The first was in October 2018, with the bottom market on the market after two and a half months, while the second was in March 2020, with the market rise after two to two weeks.
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.
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