— Cold War - Forbes trade war really has were playing down a strategist has predicted that Here's How US-China Tensions — Cryptocurrency increasingly bitcoin is unlikely to value — Bitcoin $20, — as trade war Trump the U.S. and China — How Bitcoin Commentary: Is the U.S.-China tariffs Bitcoin emerges trade war behind bitcoin's. Bitcoin vs. US-China Trade War Unlike traditional assets, cryptocurrencies may have an inverse relationship to the U.S.-China trade war. As other financial products suffer, cryptocurrencies such as Bitcoin (BTC) continue to rebound. May 10, · A potential worsening of the US-China trade war and subsequent cold war would have many unforeseen consequences. Yet, packed within the effects are both some downside risks for cryptocurrencies and.
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And as the market stays around the same in terms of marketcap and price in long term, it could also mean a validation of the above theory. Also further escalation in the trade war could potently mean a new price pump.
In all wars there there are some standard outcomes that can happen. In a war there is always one winner and one loser. If the war is sort term, and decided within the next few years the winner is the one with the most benefits.
If it is long term war, both sides will lose a lot making winner the one who lost the least, and no one wants to go down to this path. This is not different in a trade war that involves economy, technology and business deals.
As for what we know for sure, is that China leads the way in terms of mining Bitcoin. But also could be proven dangerous for Bitcoin overall, knowing that if Chinese miners co-operate, they can be a potential threat to decentralization Bitcoin offers.
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But what information or possibilities is Chambers basing this prediction on, and is there any truth to it? Today, a very large portion of international trade, whether it involves the United States or not, is completed through the transmission of US dollars. These transmissions are typically completed through a financial system known as Swift. Access to the Swift system is strictly controlled by the United States. This would severely restrict not only their ability to use US dollars, but also their ability to buy and sell goods on the open market with other countries.
Very rich and powerful people, in the know, dumped their yuan for bitcoin as bitcoin may as well be dollars and can become dollars quickly. The reason why they are able to do this is because the yuan is a highly restricted currency and its foreign exchange is typically restricted to state-owned banks only.
And so while you can get your hands on some yuan from a private exchange or dealer, when it comes from the source, it does so at a rate set by the government. This sudden and collective purchase may be what caused bitcoin to take off last week.
One thing that the Chinese Communist Party has been accused of is artificially keeping the value of their currency low. This is done so that trade with China always appears to be attractive. If the value of the yuan were to increase, then interest from foreign countries in Chinese-made goods would drop because the amount of their local currency or dollars needed to purchase the same items or services would increase.