The decrease in encryption prices amid the market drop

The prices of encrypted currencies fell amid a wide sale in shares raised by the definitions imposed by the United States on major trading partners such as Canada, Mexico and China.

Bitcoin (BTC), the largest encrypted currency, decreased by 3 % and is currently trading at 95,300 USD

ETHEREUM (ETH), the second largest encryption, decreased by 12 % to $ 2600 per digital code.

Smaller cryptocurrencies such as Dogecoin (Doge) and XRP (XRP) decreased by 7 % and 10 %, respectively.

The decrease in encryption comes as investors escape the risk assets, as Trump’s tariff raises fears of a global trade war that will lead to high prices of consumers, and perhaps high interest rates.

In addition to the 25 % definitions imposed on imports from Canada, Mexico and China, Trump also threatens to impose a similar tariff on Europe and the United Kingdom.

The American definitions, and the counter measures announced by Canada, Mexico and China have economists, investors and analyzes concerned about a comprehensive global trade war.

As a result, investors of the most dangerous assets such as encrypted currencies sell and move to the margin, keep money or buy the American cabinet.

The prices of encrypted currency were already hesitated in the days before the announcement of the Trump tariff on February 1, as investors around the world grow increasingly cautiously.

The Bitcoin price has now decreased by 13 % since it reached a little top of US $ 109,000 on January 20, the day of Trump’s inauguration.