Is Sell in Crypto because of U.S. President Trump’s International Trade War?, shaking the $1 trillion crypto market
As the crypto meltdown that has wiped $1 trillion from the entire market accelerates, Bitcoin has fallen below $80,000 per unit, raising concerns of further trouble.
The price has fallen by almost 25% from a peak of around $110,000 per bitcoin, as insiders warned of a “suppression” in the price of Bitcoin.
Don’t buy the dip:
Analysts are now speculating on the extent of the Bitcoin price correction and whether it will deepen into a full-blown market meltdown, while traders have been warned to “don’t buy the dip.”
Bitcoin will move above $70,000:
Ruslan Linkha, head of markets at bitcoin and cryptocurrency platform Uhodler, said that technical research indicates that the price of bitcoin will move above $70,000 next, which is a solid support area.
But this level can only be reached when stock markets are dominated by negative sentiment. Although US stock indexes have been falling for several consecutive days, it is too early to declare the overall uptrend over; this could just be a market correction.
“The textbook Axing Broadening Wedge pattern has a target price of $70,000 for Bitcoin,” 10x Research founder Marcus Thielen said.
Trump’s escalating international trade:
Along with the U.S. stock market’s recent decline from all-time highs, analysts have attributed the recent sell-off in the crypto market to U.S. President Donald Trump’s escalating international trade war.
“The crypto market is very volatile right now, with the Crypto Fear and Greed Index at 21st place—the lowest level since September,” Agne Linge, head of growth at centralized on-chain bank WeFi, said in an email.
Move money out of risky assets:
The mainstream stock market is reacting to the potential economic fallout as tariffs on Canada and Mexico take effect on March 5. Without guaranteed protection from these trade wars, many people may continue to move their money out of risky assets. Given regional economic uncertainty, investors need stability, which Bitcoin, being an inherently volatile asset, does not provide in the near future.
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