US-China Tensions Drop Bitcoin! So What's Needed for BTC to Rise? Analyst Explains!

Trade tensions between the US and China are seemingly on the ￰0￱ they should be easing, they're on the rise ￰1￱ President Donald Trump's statements last night that a 157% tariff could be imposed on China halted the upward movement in Bitcoin. Bitcoin, which had pushed $112,000 before Trump's statements, started to decline after the statements and fell to $107,000. While the declines triggered by US-China tensions continue in Bitcoin and altcoins, an analyst stated that the macroeconomic uncertainty environment continues and therefore BTC volatility will continue for a ￰2￱ to The Block, BTSE Chief Operating Officer (COO) Jeff Mei said that Bitcoin's recent decline is due to a macroeconomic crisis, including US-China trade ￰3￱ stated that as long as these tensions between the US and China continue, the sudden declines and recoveries in Bitcoin will continue.

“We believe macro concerns are driving daily swings in the Bitcoin and cryptocurrency ￰4￱ as long as trade tensions between the US and China persist, volatility will continue.” Mei stated that the recent decline in BTC and altcoins was due to investors' risk aversion ahead of the meeting between Chinese leader Xi Jinping and US President Trump scheduled to be held in South Korea at the end of ￰5￱ this point, the analyst added that the biggest risk in the current environment is the unpredictability stemming from the macroeconomic situation and trade talks. Mei, who recently advised investors to diversify their assets and prepare for uncertainty, noted that important announcements are expected this month, including CPI data and the Fed's interest rate decision.

“The biggest risk to crypto markets in the current climate is the unpredictability of macro developments and trade ￰6￱ is why markets can rise and fall on the whims of a single ￰7￱ only thing investors can do in this environment is to diversify their assets and try to hedge against uncertainty.” *This is not investment ￰8￱ Reading: US-China Tensions Drop Bitcoin! So What's Needed for BTC to Rise? Analyst Explains!