⭐ Merited by pooya87 (3)
Trump could not have picked a better time. Just as the entire crypto market is seen celebrating with bitcoin reaching a new ath and altcoins also gaining significantly, he threatens 50% tariffs on EU to begin on June 1st. Apparently because they have been difficult and unrelentless during the negotiations. I am assuming that this pissed off Trump and which is why he immediately declared straight 50% tariffs on EU.
As expected, the consequences have been quick. Futures for the S&P 500 and the Dow Jones Industrial Average slid 1.5% and Nasdaq futures tumbled 1.7% before the bell. Oil prices fell and Treasury yields sank. Bitcoin, which had recently pushed to new highs, tumbled to $108,500, marking a 2.7% drop in 24 hours.
I do not believe that this will make bitcoin collapse as seen as in many headlines (if you were to ask me, I think a lot of critics are hoping bitcoin crash lol) that I see. It just sucks that this economic/political decision has stopped (for now) bitcoin's journey to more aths.
As expected, the consequences have been quick. Futures for the S&P 500 and the Dow Jones Industrial Average slid 1.5% and Nasdaq futures tumbled 1.7% before the bell. Oil prices fell and Treasury yields sank. Bitcoin, which had recently pushed to new highs, tumbled to $108,500, marking a 2.7% drop in 24 hours.
I do not believe that this will make bitcoin collapse as seen as in many headlines (if you were to ask me, I think a lot of critics are hoping bitcoin crash lol) that I see. It just sucks that this economic/political decision has stopped (for now) bitcoin's journey to more aths.
Who cares if in a year BItcoin will gain at least 10 fold ! ! OMG 10 fold
this type of geopolitical action can only make a short term volatility, nothing else. In a broader context, Bitcoin's fundamentals still remain solid. You know BTC is decentralized not like shit $$, so this gives Bitcoin a position as a headge against traditional market fluctuation. If you're here for long, you must see Bitcoin bouncing back from the same dip, although those dips come from strong hands like macroeconomic FUD. Historically, Bitcoin has shown resilience 
Do you think that had Trump not done this, will bitcoin go on to reach a new ath this week or at least before the month ends or do you think that Trump's announcement did not really make any difference as it would have gone to a similar ending?
Dude its not possible to predict every second's market movement with certainty, obviously I will call it "every second" considering Bitcoin's historical long journey. However, I'm not such an emotional Hodler to deny tariff's impact on Bitcoin, it undoubtedly introduced a variable that affected investor sentiment, but for the short term.
Rather, I will see such a type of correction as healthy for the overall market dynamism. Just like a consolidation before the potential hit