BTC price experienced another drop while President Trump was speaking. During his speech, he discussed the trade war, considering it as a tool and bargaining chip to enhance the US economy. The gravity of the situation has recently become evident. Although temporary resolutions were reached with Mexico and Canada, the new president is now opening up new fronts.
Trump’s Impact on Cryptocurrencies
The arrival of Trump initially brought positive prospects for cryptocurrency regulation. However, it is proving to be detrimental to the global economy. Following China, Mexico, and Canada, he has announced the imposition of additional tariffs on Japan. Furthermore, he has promised much more. Trump stated that he will disclose decisions on additional tariffs with several countries in the coming week.
As the weekend approaches with low trading volume, Trump essentially shook the cryptocurrency space.
“I will have discussions with Putin.
I will hold a meeting with the President of China.
I will discuss the Nippon agreement with Ishiba.
I will make an announcement regarding mutual trade next week.
The option of imposing tariffs on Japan is on the table.
Tariffs serve as a means to cover the budget deficit.
Next week, I will announce mutual tariffs for many countries.
I hope to meet with Zelenskiy next week to discuss the security of their rare earth elements.”
