Yesterday was the day when a new set of tariffs was supposed to be announced by Trump and... he didn't disappoint, lol. Interestingly, he called them retaliatory tariffs, which may be true in some cases, and not true in others, or simply half-truths as we got used to.
Whether they are first-hand tariffs or retaliatory ones is inconsequential, because we will see retaliations to these new tariffs from those affected, or the biggest of them. So... will we have retaliations to retaliations of retaliatory tariffs next from Trump? Who knows?
If it wouldn't be so bad for the economy and for us, as the most affected by all of the big boys playing tariffs, it would be much like blame games we played as children, when no one wanted to admit fault and simply added the same "did too" in an infinite game to keep the illusory stalemate. Until we both/all got punished, if no blame got assigned.
So... with the expectation of tariffs to be announced, it was normal to see volatility in the markets, where participants tried to position themselves for what was about to come.
What I found interesting was that during the day, before the announcement, crypto held on very well, with some coins well into the green. BTC joined the green side later in the day.
I didn't expect that. I thought we would have a red day anticipating the tariffs announcement. During the day, seeing the movements, I thought the coins are pushed into the green to have room to drop afterwards. I still think this is true.
But apparently, something else happened yesterday, that was interpreted positively by the markets. Rumors of Elon Musk leaving the inner circle of Trump appeared. That may or may not be true. Even if it's not, it's a good way to test the waters and see how unpopular has Elon Musk become among various categories of traders.
If they already knew that he was unpopular, this was an easy way to have a little intra-day pump before the tariffs were announced. Some may have mistakenly interpreted that the market will have a positive reaction to the tariffs, which was pretty obvious it wouldn't have.
Anyway, pretty interesting market yesterday in crypto, for those who watched. Nothing that was good for long term decisions on investments, though.
Look what happened with BTC:
Gradually being pushed higher throughout the day, and pumped hard right before Trump's speech. Then... a sharp way down as he talked about tariffs. Anyone thought only HIVE can be pumped & dumped? 😄
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Everyone reacts to Trump's tariffs, but will it be better when it stabilizes?
It depends when/where it stabilizes. If things stabilize at high tariffs, I don't see how it can be better (than before the tariffs).
Of course, in short this year will continue to be a carousel.
Very likely...
I don't think the tariffs will work well for anyone, and I think people have too many expectations for crypto for Trump. I think the crypto will be selective and I don't think his focus is on crypto at all.
I'm pretty sure his intentions are rather mercantile. He was never an idealist, nor is Wall Street. That being said, some administration actions do help crypto as a whole, like the change in policy at the SEC.
Loool apparently anything can be pumped and dumped, I think sometimes the Hive critics gets too carried away by thinking we're the only ones susceptible to dumps.
I really don't know who these tariffs increases benefit's, although they say when two elephants fight, it's the grass that suffers
It's true, in other cases, P&D are... more complicated. But as we can see, not impossible. And the more centralized BTC becomes, the more likely will be to see more manipulation...
Seems an accurate metaphor. However, it doesn't even have to be elephants for the grass to suffer...
Pretty much expected when he basically retaliated the whole world, now wait rumors for lifting for the pump🤣
Maybe... It's a mess.
The trade war will increase the volatility even more that's what I'm thinking, everyone is getting unpredictable just like the crypto, besides the people influence the crypto anyways.
Yes, unfortunately we are traversing some uncertain times.
I look at this and see the turbulence, as is to be expected. No surprise there. The efficacy of what he's doing remains to be discovered.
What worries me, in a sense, is that we have yet another case of instability disrupting the markets, and once the dust settles we'll end up in another trading range that's down one more step. If BTC's "big rally" was actually the run to $109K, what do the next three years have in store for us? A series of "step downs" on every big negative news event?
I don't know what the following years will be like, but this year, at least until mid-year seems to be driven by this instability due to tariffs, their delayed implementation or retaliatory tariffs.
The sooner we'll have negotiated deals instead of unilateral decisions, the likelier it is to return to some sort of normality. We'll have to see what that normality will look like than, and how harsh that world will look like compared to what it was before.
I think the announcement of the Tariffs might have an effect on cryptos
It surely did.
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