August 1 the President of the United States trump again took to Twitter that will increase tariffs on Chinese goods, and the price of bitcoin instantly increased by $400.
Trump has announced that it will be the duty on goods worth $300 billion, and they will be introduced from 1 September 2019. The toll will affect all goods from China.
However, the news that is negative for consumers, it becomes a positive for bitcoin prices. The proposed fee supposedly is only a “small tax,” and trump is threatening to increase it by 25% during trade wars.
“Recently, China agreed to buy more agricultural products in the United States, but did not. In addition, my friend President XI said that he would stop the sale of fentanyl in the United States, but this has not happened, and many Americans continue to die!”
In early may, just a week after the introduction of the 25% tariff on Chinese goods, bitcoin jumped by 40%. Other factors in the growth of bitcoin prices then began IEO from BitFinex at $1 billion and positive mood of Consensus cryptocurrency conference in new York.
Chinese investors are allowed to trade in bitcoin and own them. However, they can also buy bitcoins using OTC VPN services for various exchanges or can be traded on p2p platforms.
Despite the ban of the China, many believe that Chinese people around the world have contributed to the recent growth of bitcoin prices, Hegira their money against a falling Euro. Chinese state news Agency Xinhua has called bitcoin “a safe-haven asset”.
Not only Chinese investors, but the investors are trying to find alternative investments for themselves. As noted by the South China Morning Post, in 2019 popular among these investors was gold and “digital gold”, which helped them to hedge their assets.
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