Careful encryption markets where Trump imposes American definitions – Tradingview News
US President Donald Trump has continued a major promise to the campaign. On Wednesday (yesterday), Trump officially ordered a mutual tariff worldwide from April 5. This decision is expected to create cautious feelings, with concerns about the possible escalation of the trade war.
The encrypted currency market has seen increasing fluctuation after the announcement. XRP 5 % fell on Wednesday after the Trump tariff was announced.
US tariff
“I think that the lack of a clear reaction from the encryption markets reflects a sense of collective shock among the participants. Many, including myself, doubt that this is a final decision. There is a widespread expectation that the situation can be burned quickly. Traditional economists truly indicate that these aggressive definitions increase global uncertainty and the global economy tends towards a possible potential investigation.
XRPUSD, H1 chart, Source: TradingView
The XRPUSD H1 chart shows a significant interruption at the support level, which can serve as resistance, and may lead to low price. However, some buyers may wait more decrease before entering the market.
“The encryption prices are particularly vulnerable to manipulation. It is possible that many investors will choose to stay on the margin so that there is more clarity. Personally, I see great potential for profit during this period of fluctuations, but it is an area where the most amazing players will flourish.”
Read more in Financemagnates.com: Bitcoin, Altcoins fell under President Trump’s definition: Can encryption recover?
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Global markets decrease amid customs tariffs
Meanwhile, global financial markets faced a major turmoil after Trump announced the definitions. Arrow indicators throughout Europe and the United States have seen widespread declines, including major indicators such as Euro Stoxx 50, S&P 500 and NASDAQ 100.
The definitions, ranging from 10 % to 50 %, have raised concerns about a possible trade war and universal supply chains. European markets, including DAX and Euro Stoxx 50, have opened less, with DAX decreased in Germany 1.3 %.
The American markets reflected pessimism, with a decrease in future contracts on the S&P 500 and NASDAQ 100 sharply. Analysts cite the fears of the trade war, inflation and economic growth as major factors behind the sale, with special weaknesses in sectors such as cars and retail trade. Golden futures have reached record levels, reflecting a journey to safety where investors are preparing for more market fluctuations.
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