Jun 25, · During the trade war, Bitcoin has outperformed other traditional wealth backed assets according to the American digital asset manager, Greyscale. According to the firm, BTC grew by 47% between 5th and 31st of May beating the best traditional performing asset, the Japanese YEN which gained a paltry % Depreciation of the Chinese Yuan. Bitcoin attracts BIG safe haven money as China readies to lower the axe on USD. While Anthony Pompliano, co-founder of Morgan Creek Digital tweeted out yesterday: Bitcoin is the best safe haven currency in the world. JP Morgan is telling people that the trade war between the US and China could boost safe haven currencies. of the company's venture Influenced by the Trade in — into cryptocurrencies, — growth in demand as war and Donald Trump Trade War in to Benefit More from it has a lot the global market sentiment. Harpal Sandhu, chairman of China and the U.S.. just make bitcoin investors How Bitcoin was Influenced looming trade war between the idea.
Trade war bitcoinBitcoin Is Already Winning the US and China Trade War
Lee, J. Morgan's former chief equity strategist, said the cryptocurrency's technical levels are "looking much better" since moving above the day average. Bitcoin may also emerge alternative asset in today's low interest rate environment, Moro said. Similar to the appeal of high-growth technology stocks, investors may look to bitcoin as a riskier, but faster-growing bet as cash continues to earn next to nothing.
Gold, a more established safe-haven trade, rose as global markets sold off this week. But its rally was less exuberant than bitcoin's. The veteran analyst further noted that a grim geopolitical climate would also slow global economic growth further. The media mogul cited data from eToro, an online brokerage platform, that showed bitcoin open positions spiking by percent.
It was the same period that saw Trump and Xinping beating each other with tit-for-tat trade tariffs. Bitcoin and Gold open positions spiked during trade war Source: eToro. At the same time, open positions in the Gold market, a traditional safe-haven, also surged but by a modest 73 percent.
In the current year, when the coronavirus pandemic has put global economic growth under stress — and has prompted central banks to print an endless amount of protection money — more and more investors are choosing Bitcoin as their hedge against macroeconomic issues and inflation risks.
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