On February 3rd, Jeff Park, head of strategy at Bitwise Alpha, said that tariffs may only be a temporary tool, but the long-term conclusion is that bitcoin will not only go higher, but also go faster, because "both sides" in the trade imbalance equation want bitcoin, so the end result is the same: higher price and faster.
Petr Kozyakov, CEO of crypto payment platform Mercuryo, pointed out that after Trump announced the tariffs on Friday, there was a wave of FUD in the cryptocurrency market, and the prospect of a long-term interest rate hike shook all markets around the world. While Bitcoin has fallen below the $100,000 mark, the king of cryptocurrencies has once again proved himself unique, in stark contrast to counterfeit products that fell across the board. Bitcoin plummeted overnight to just over $91,000, a minimum decline of nearly 10%, before rebounding to around $95,000. Other major cryptocurrencies saw even bigger declines, with Ethereum down about 20% and Solana appearing to perform better relative to Ethereum, down only 6%.
Bitwise executive: Tariffs may be just a temporary tool, bitcoin will still rise in the long run
2025-02-03 11:43:29
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