The rising tensions between the US and China in the current trade war could have massive effect on the cryptocurrency market.
Godemperor Trump, when asked about the possible sanctions, said his administration is “doing something now” that he will unveil later this week.
China in turned warned that it would retaliate if the U.S. put sanctions on the country or interfered in its affairs.
One of the actions considered by the US Treasury Department is to impose controls on transactions and freeze assets of Chinese officials and businesses. A delisting of Chinese companies from the US markets could have a severe impact on China’s economy, causing Chinese investors to shift their investments to other assets like cryptocurrencies to fill their portfolios.
The dollar inflation as a result of immense money printing by the Federal Reserve could also lead investors to other options like gold and cryptocurrencies, suggests author and entrepreneur, Robert Kiyosaki.
Bitcoin as the biggest cryptocurrency, stands to benefit in the event that an alternative investment is chosen among the cryptocurrencys.
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// Rickard
