Markets Update: Upward Trends As All Eye Trump and China
Most of this week’s cryptocurrency markets have been on an upward trend following the top digital asset, Bitcoin. On January 16 Bitcoin’s fiat price value broke the US$900 range, once again showing a determined bullish outlook. Meanwhile, the top ten altcoins in the cryptocurrency ecosystem have either stayed relatively stable or gained value. Bitcoin....
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U.S. President-elect Donald Trump has pledged to declare China a currency manipulator on day one of his presidency. During his campaign, he also repeatedly pledged to impose a 45% tariff on Chinese goods. His promises risk creating a trade war between the U.S. and China which could weaken the yuan and accelerate Chinese capital outflows. When the yuan....
President-elect Donald Trump often decried how China sucked jobs out of the U.S. and he offered up the solution of prosecuting trade cases against China for its “unfair subsidy behavior” and currency manipulation. He suggested tariffs as high as 45 percent on its exports. “We can’t continue to allow China to rape our country, and that’s what they’re doing,” he told supporters in May. “We have the power over China, economic power, and people don’t understand it,” Trump also said during the campaign. If Trump pursues a such path, then China would fight back – it’s even said so itself. It....
– he failed to demonstrate his understanding of the Internet and contemporary, borderless commerce. If it’s not remittances, immigrants in the US will figure out a way to send their money home if they want to do so. For now, it’s not going to be Bitcoin. But, if Trump does block remittances, you better believe that sooner than later increasing numbers of remitters will look into this blockchain technology. Knowing crypto-currency enthusiasts, they’ll likely troll Trump with Wallcoin. Or “Wall: The Blockchain Solution That Knows No Walls.” There’s already “Trumpcoin.” Trump wants to use a....
Cryptocurrencies may see a boost between China and the U.S., as the American president Donald Trump has signed an executive order banning financial transactions with eight China-based payment applications. Following the signing of Trump’s new executive order, popular payment apps including Alipay, Wechat Pay, and Tencent’s QQ will be banned in America in 45 days. According to the latest executive order signed by U.S. President Donald Trump, Americans will be prohibited from transacting with eight different Chinese payment applications. Transactions processed with these apps....
When Donald Trump won the presidential election in November, the price of bitcoin jumped. Following his inauguration today – not so much. On 9th November, prices bounced more than 3% as Trump, the controversial businessman and Republican presidential nominee, secured the votes to clinch the election versus former US secretary of state Hillary Clinton. That move came as stock markets worldwide sharply fell as Trump's victory became apparent. The reaction to Trump's inauguration, by contrast, was far more muted. Data from the CoinDesk Bitcoin Price Index (BPI) shows that today’s prices have....