President Trump signed an order to impose a 25% tariff on imports from Mexico and Canada, and a 10% tariff on China, which will take effect on Tuesday. Cryptocurrencies have shown a risk-averse trend and have dropped significantly, with BTC falling 8% to $92,798.34 most recently. Jeff Park, head of alpha strategy at Bitwise, said that the ongoing trade war will be "amazing" for Bitcoin in the long run as the US dollar and US interest rates will ultimately weaken. (CNBC)
Trump orders tariffs, crypto markets fall on safe-haven sentiment
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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