Tariff Tussle: Will Trump’s Trade Tornado Tumble Crypto? 🤯
Oh dear, oh dear! Donald Trump’s ‘Liberation Day’ is finally upon us, and with it comes a whole mess of tariffs and trade troubles! 🤯 The Bitcoin price has been bouncing around like a rubber ball, but will it stay aloft after Trump’s big announcement? 🤔
What’s All the Fuss About, Then? 🤷♂️
It seems that Trump’s expert trade council has been busy cooking up a batch of reciprocal tariffs, which could give the crypto market a good old-fashioned shake-up. The US President plans to unveil these tariffs by 8 pm UTC today at the Rose Garden, but the details are as clear as a foggy morning in London. 🌫️
The rumors are swirling like a tornado in a trailer park that the tariffs could be a tiered system of 10% to 20% or a flat 20% global tariff. But which countries will get the short end of the stick? 🤔 Will it be China, Canada, Mexico, and the EU, or perhaps a few other naughty nations? 🤷♂️
Traders on the prediction market Kalshi are betting big time that the reciprocal tariffs will majorly focus on China, Mexico, Canada, South Korea, Germany, India, Japan, France, and Brazil. But will they be right? 🤔 Only time (and Trump’s Twitter feed) will tell! 📱
Market experts are warning of a full-blown trade war, which could lead to inflation, recession, or stagflation. And if that happens, the crypto market could be in for a world of hurt. 🤕 But don’t worry, folks, the Bitcoin price has already surged past the $86,000 mark, so it’s all good, right? 🤑
The Crypto Conundrum 🤔
Financial firm Matrixport says the Bitcoin price will follow the stock market’s movement, which is a bit like saying a chicken will follow a farmer to the farm. 🐓 But what about the experts who predict a V-shaped rebound if Trump targets specific sectors? 🤔 FundStrat says markets have overcorrected and that clarity could spark a rally. 📈
Goldman Sachs, on the other hand, has increased the odds of a US recession to 35%, which is bearish for the crypto market. But don’t worry, folks, it’s just a prediction, right? 🤷♂️ The bank cited GDP drag from weaker investment, higher costs, and global retaliation as what could spark this recession. 📊
So, will Trump’s tariffs be a blessing in disguise for the crypto market, or a curse in disguise? 🤔 Only time will tell, but one thing’s for sure: it’s going to be a wild ride! 🎠
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2025-04-02 18:30