• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
Bitcoin, BTCUSD, cryptocurrency, crypto

This Chilling Global Trade War Warning Could Send Bitcoin Demand Higher

Yashu Gola by Yashu Gola
3 years ago
in Bitcoin
0
  • Bitcoin is eyeing significant growth in the year 2020 as global economies form a unified front against China over its failure to handle the coronavirus outbreak.
  • Veteran investor David Sokulsky warned that escalating tensions would begin a trade war much worse than the one between Beijing and Washington.
  • The prediction raised opportunities for Bitcoin to resume its role as a hedging asset, as it did in 2019.

Bitcoin could undergo significant growth in demand as prospects of a new trade war looms over the global market sentiment.

Opportunities for the cryptocurrency grew as David Sokulsky, CEO and chief investment officer of Concentrated Leaders Fund, told CNBC that he sees all the leading economies making a unified front against China over its handling of the coronavirus pandemic.

World leaders, including U.S. President Donald Trump, want Xi Jinping’s government to be investigated over the origins of the coronavirus outbreak.

Mr. Sokulsky said that the latest conflict could begin a new trade war, one that would be much worse than the one between the U.S. and China last year. The veteran analyst further noted that a grim geopolitical climate would also slow global economic growth further.

“That’s a major risk which isn’t being priced in at the moment,” he explained. “As we pass peak infection rates, the politicians are going to want to blame somebody, and the obvious target for that blame is China.”

Bitcoin’s Role in Trade Wars

Mr. Sokulsky’s comments left a lot to grasp for investors with exposure in both China and offshore markets.

Many feared a repeat from 2019’s trade conflict, wherein an escalating trade conflict slowed growth and placed the biggest drag on oil prices, and the U.S. stock market mostly moved on the whims of Trump’s seesaw tweets.

The last year’s trade war also left a significant dent on the value of the Chinese yuan. The currency fell below the psychologically-important level of $7 a unit, prompting a selloff in stocks and other risk-on assets.

In the same week, the price of Bitcoin surged 35 percent, with a Business Insider report suggesting that the Chinese investors drove the cryptocurrency’s demand higher to protect themselves from yuan’s devaluation.

The media mogul cited data from eToro, an online brokerage platform, that showed bitcoin open positions spiking by 284 percent. It was the same period that saw Trump and Xinping beating each other with tit-for-tat trade tariffs.

Bitcoin, BTCUSD, cryptocurrency, crypto
Bitcoin and Gold open positions spiked during trade war 2019 | Source: eToro

At the same time, open positions in the Gold market, a traditional safe-haven, also surged but by a modest 73 percent.

Safe-Haven 2020

Markets’ reaction to last year’s trade war was a booming demand for Bitcoin.

In the current year, when the coronavirus pandemic has put global economic growth under stress – and has prompted central banks to print an endless amount of protection money – more and more investors are choosing Bitcoin as their hedge against macroeconomic issues and inflation risks.

A new global trade war, therefore, could accelerate the cryptocurrency’s adoption further.

Photo by chuttersnap on Unsplash
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Yashu Gola

Yashu Gola

Globetrotter Yashu Gola has been working as a financial/crypto market journalist since 2013. He is an information technology graduate, a cryptography junkie, a filmmaking enthusiast, and an avid reader of Jon Erickson, Agatha Christie, JK Rowling, and Isaac Asimov.

Related Posts

Bitcoin

Could Bitcoin Be On The Verge Of New ATH Rally? Analyst Identifies These Conditions

23 hours ago
Bitcoin

Bitcoin Miners On The Defensive: Market Uncertainty Spurs Revenue Diversification – Analyst

1 day ago
Bitcoin

Bitcoin Roadblock Unveiled: Analyst Identifies Barrier Faced By The Top Crypto

2 days ago
Bitcoin ESG

Bitcoin Is The Ultimate ESG Asset, Expert Validates

2 days ago
Bitcoin

Six And Counting: The Global Bitcoin Billionaire Phenomenon Unveiled

4 days ago
Bitcoin price Fed

How Has The Fed’s Decision Impacted The Bitcoin Price? Crypto CEO Weighs In

5 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • Mercante Technologies to Launch AI-Powered Customer Support...

    2 hours ago
  • While Litecoin (LTC) and Aave (AAVE) try to break key...

    23 hours ago
  • Bitcoin (BTC) and Compound (COMP) At the Market Crossroads...

    23 hours ago
  • Next 10x Crypto Gems: 6 Coins Under $0.50 To Buy Now

    24 hours ago
  • TokenCoin — Guide to Earning Passive Income through...

    24 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.