Cryptocurrency plummets after rumors of Trade War

Cryptocurrency plummets after rumors of Trade War


Hello Publish0xians,

This in, Tokens have lost all their gains from the recent announcement of a " crypto strategic reserve ". Some say this sent crypto soaring, less than 48 hours cryptocurrency became a rock just plummeting to the bottom it looks like.

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Tokens such as Bitcoin, Ethereum and most of the market are down nearly double-digit percentages. This recent crash has wiped billions off the cryptocurrencies value as a whole.

Due to a recent tariff, Trump has implemented tariffs on its two largest trading partners, Canada and Mexico. Mexico is a leading example of using Bitcoin to pay out workers while having call centers and products made from the everyday American neighbor. Mean it will become more expensive for Chinese, Mexico, Canadians businesses to buy U.S goods. In other words, this will likely reduce the demand for products, hurting U.S companies and individuals who are the makers.

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More of less a large part of the world is likely entering a trade war; involving the countries that stand behind two of the largest economics.

With all this trade war talk, situations can result in a negative impact on markets causing them to drop in value, not only in demand, but also in wages and jobs can be lost. The price of crypto is anyone's guess now.

 

I'm looking forward to hearing your perspective!

Take care and talk soon,

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