Implications Of Trump’s Trade War With China On Bitcoin

The trade war between the United States of America and China rages on as both sides are not not willing to back down or make any consensus with President Trump’s administration ratcheting up its rhetoric with allegations of China being a currency manipulator that could pave the way for the U.S. to impose punitive sanctions against the Chinese.

In response China help quell the fears of investors by buying renminbi to stabilize its value and currently not poised to use currency as a trade weapon.

Such development in the macroeconomic space has instilled fears on many investors across the globe and who are now trying to look for alternative investments that would help protect their assets.

During these economic uncertainties gold has always been the safe haven asset for those who want to hedge against risk, but there is a new asset class that my soon usurp gold’s status as the world’s store of value— bitcoin.

After more than 10 years of existence digital gold, what many describe Bitcoin, is a more convenient and cheaper way of Store of Value and has fast becoming a safe haven asset that investors can rely on during times of economic downturn of impending turmoil.