Bitcoin, Etherum Pad until Trump confirms 104% tariffs on China

Bitcoin, Etherum, and most Altcoin is down in the middle of an unprecedented American tariff campaign in China.

The Cripto markets are still located from the latest American Tariff Hike. On Tuesday 8 April, The The white house was confirmed That the tariff on the whole goods from China will increase to 104%, in force 9. April 12:01, Eastern Time.

Shortly after this announcement, Bitcoin (BTC) dropped to everyday low of $ 76,508 while Etherum (ETH) bottom to $ 1,454. The decline is probably due to fear of negative effects, these unprecedented tariffs would have in the global economy.

The decision of the White House was created after China failed to answer Donald Trumpov Ultimatum. Namely, the American president threatened an additional 50% tariff hike if China did not confiscate its 34% retirement tariffs on American goods. April 8. April.

What tariffs mean for bitcoin and crypto

Several analysts were cheated on the effects that the American trade war will have on the crypto market. For one, Nansen Aurelie Barthere analyst called Escalation “The worst scenario” for risky assets, including crypt. According to Barteo, the escalating tariffs of damage to economic growth in each country, bringing a “shock for global growth”.

This would be a particularly negative scenario for risky assets, because this property relies heavily on growth to increase their inflated estimates. However, some analysts challenge it, at least for Bitcoin. According to Bitmek co-founder Arthur Haies, escalating trade war with China could be Catalyst for bitcoin.

Haies predicts that trade war will probably impose inflationary pressures on Yuan. This could lead to Chinese investors to turn into Bitcoin as a safe haven. A similar scenario happened earlier and reinforced Bitcoin’s price.

So far, it is not clear in which direction, white houses will be taken in the future. To polymarketThe chances of Trump reduce most tariffs by July fell to 50%, from 64% 7. April.