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Bitcoin Falls to $75,000 as Trump Tariffs Take Effect on Chinese Goods
In a dramatic move, the price of Bitcoin has plummeted to $75,000 amid escalating trade tensions between the US and China. As tensions escalate, investors are advised to exercise caution in the short-term while maintaining an optimistic outlook for long-term gains.
Ryan Lee, Chief Analyst at Bitget Research, suggests dollar-cost averaging into Bitcoin now, with a focus on alternative investments like Solana for higher-risk upside later. Although he remains bullish about a potential recovery to peak prices by late 2025 if macro conditions stabilize or pro-crypto policies emerge, investors are urged to remain cautious in the short-term.
The recent performance of the broader crypto market has been heavily influenced by traditional financial markets, with Bitcoin mirroring the ebbs and flows of US markets. The threat of a prolonged trade war could weaken global trade, disrupt supply chains, and slow down US economic growth, putting additional pressure on U.S equity markets and cryptocurrencies.
Bitcoin’s potential as an alternative to the U.S dollar has been reignited by this uncertainty, with experts such as Jeff Parks and Hunter Horsley suggesting that trust in the US dollar is waning.
Source: https://blockonomi.com/bitcoin-falls-to-75000-as-trump-tariffs-take-effect-on-chinese-goods/
