Trump’s Tariffs: BTC to the Moon?! 🚀

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Yesterday, in a move that could only be described as either genius or utter madness (opinions vary, mostly leaning towards the latter), the US government, seemingly bored with the status quo, decided to slap reciprocal tariffs on a few of its closest frenemies – you know, China, the UK, South Korea. The usual suspects.

The announcement, naturally, caused the global markets to have a bit of a wobble. In the daily chart, Europe is sulking at -0.31%, China’s having a mild panic at -0.18%, Japan is face-planting at -3.19%, India’s feeling slightly off at -0.21%, South Africa’s taken a tumble at -0.94%, and Australia’s upside down as usual at -0.93%.

But fear not, for crypto analyst Michael van de Poppe – a name so Dutch it’s practically a windmill – predicts that once the initial market hysterics subside, Bitcoin and its motley crew of altcoins might just see a surge in popularity. Curious? You probably shouldn’t be. Read on anyway! 🙄

Trump’s Tariffs against Trade Partners

US President Donald Trump, a man who apparently views the global economy as his personal game of Risk, previously rattled everyone’s cage by imposing tariffs against China, Mexico, and Canada back in February. And just when we thought the world couldn’t get any weirder, he’s back with more reciprocal tariff announcements against those same trade partners, plus a few more for good measure, like a particularly aggressive game of international tag.

The US administration, under the watchful eye (and Twitter feed) of Republican leader Trump, has decided to impose a 49% tariff on Cambodia, a 46% tariff on Vietnam, a 34% tariff on China, a 26% tariff on India, a 25% tariff on South Korea, and a 10% tariff on the UK. Because why not?

Interestingly, the US president, with a flair for the dramatic only rivaled by a Shakespearean actor who’s had too much coffee, dubbed the tariff announcement ‘Liberation Day.’ Speaking at the event at the Rose Garden of the White House (because where else would you announce global economic upheaval?), Trump defended his reciprocal tariff decision with the conviction of a man who believes he’s single-handedly saving the world, saying “Taxpayers have been ripped off for more than 50 years. But it is not going to happen anymore.” One can only assume this involves some sort of complicated algorithm and possibly a time machine.

US Tariff Concerns Easing: What It Means for the Market

The tariff decision, unsurprisingly, has thrown the global economy into a state of mild bewilderment. Even the crypto market, usually immune to such trivialities as real-world economics, has been affected. In the last 24 hours, the crypto market has shrunk by a whole 2.8%. Bitcoin has taken a slight tumble of 1.2%, Ethereum is down by 2%, XRP is sulking at 2.6%, Solana is having a bit of a meltdown at 4.4%, and Dogecoin is barking at 2.1%.

However, Michael van de Poppe, our favourite Dutch crypto analyst, bravely steps forward to tell us that, like a phoenix from the ashes of economic doom, demand for Bitcoin and altcoins may rise once market fear and uncertainty finally decide to pack their bags and leave. Maybe they’ll go to a nice beach somewhere.

The Tariffs won’t be as bad as the entire population expects them to be.

Uncertainty fades away.

Gold will drop. ‘Buy the rumor, sell the news’#Altcoins & #Bitcoin goes up. ‘Sell the rumor, buy the news’

— Michaël van de Poppe (@CryptoMichNL) April 2, 2025

Gold Expected to Drop: ‘Buy the Rumour, Sell the News’ in Action

Since March 1, the gold market has experienced a surge of at least 8.7%. During the period, it has outperformed the Bitcoin market, which has witnessed a drop of 1.30%. Because nothing says “stability” like a shiny, heavy metal that sits in a vault somewhere.

Rumours related to Trump’s tariffs have created fear and uncertainty in the market. Experts (who are, let’s face it, just as confused as the rest of us) believe that this market atmosphere encouraged investors to scurry from risky assets to the supposed safety of gold. Like lemmings, but with more money.

Today, at one point, the gold price touched a dizzying $3,167.382. Now, it’s hovering around a slightly less eye-watering $3,129.210.

Michael, in his infinite wisdom, notes that investors brought gold as a hedge against uncertainty, but now that uncertainty is decreasing, gold prices may decline. Which just goes to show, never trust shiny things.

Bitcoin & Altcoins Could Rise

Michael points out that traders may have sold Bitcoin and altcoins earlier because they were scared of tariffs. Now that the situation is clearer, they may start buying again, pushing prices up. Or maybe they’ll just decide to go to the beach. Who knows? The market is a fickle mistress. 🤷‍♀️

Today, Bitcoin has climbed from $82,543.74 to $83.021.56. Currently, the market looks bullish. Yesterday, at a point, it made a strong attempt to break above the previous swing high, rising as high as $88,534.92. Whether this is the start of a glorious new era or just a temporary blip remains to be seen. But one thing is certain: it’ll be interesting to watch. Or, you know, not watch. It’s your life. 😴

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2025-04-03 11:11