Do you think this Economic situation will push More People into Bitcoin?
We know that countries like venezuela, ghana all Ready are Bitcoin adopters.
China USA trading? Do you think that has impact too?
Coz i think the gold market is about pop the bubble soon
Donald Trump announced around the 5th day of the month of May, that he would raise tariffs on Chinese products that will be imported on their country because of the rising tension between US and China, friday morning after the 5th tge proce of bitcoin rose up to 26.5% and US$ 7,878 but then as investors cashed out the price fell to US$ 7,200.
These two countries' tension and their currencies' movement are positively affecting the price of bitcoin. It rises alongside yuan currency price's concern, and this might drive and convince people to invest and enter crypto space because of the price movement.
Is there really a causal connection between the two? Or they are just coincidences? Until now I still cannot find the exact correlation between the two. Sometimes I tend to think that people are just trying to fit this correlation where it is not actually realistic. This trade war between the US and China is already taking some time and yet Bitcoin remains stuck in this 4-digit price. While the trade war is getting worse, with retaliatory actions taken by both sides, Bitcoin is still not pumping.