The head of the Alpha Strategies division of the investment company Bitwise said that new tariffs on imported goods introduced by US President Donald Trump will have a positive effect on Bitcoin quotes.
Jeff Park believes that the relationship between tariffs and Bitcoin will definitely affect the price of the first cryptocurrency in the long term:
“Compared to the 1970s, when the world was largely offline, today we are not just online, we are on the blockchain. And while both sides of the trade imbalance equation are seeking to own Bitcoin for different reasons, the result is the same: a rapid rise in the asset’s price in the context of a trade war.”
According to the expert, the introduction of tariffs will lead to a weakening of the American currency in international trade and will provoke an increase in inflation, which will be felt most strongly by US trading partners.
Further devaluation of the US dollar around the world will lead to people looking for alternative assets to maintain liquidity, such as Bitcoin and other digital currencies, the expert explained his position.
Earlier, analysts at CryptoQuant said that investors should prepare for a change in the market phase, as the peak of the first cryptocurrency cycle is coming soon.
