Jeff Park, a prominent analyst at BitWise, views the ongoing trade tariffs under the Trump administration as a catalyst for Bitcoin’s price rise. He highlights a decreasing US dollar value as a significant factor making Bitcoin an appealing alternative for investors.
As inflation rises due to these tariffs, US trading partners may experience currency declines, incentivizing them to adopt Bitcoin. This situation enhances BTC’s perception as a reliable store of value amidst economic uncertainty.
Despite a short-term drop of about 7.2% in Bitcoin’s price, Park remains optimistic about its long-term growth potential. The fluctuations reflect the broader market response to Trump’s trade policies and rising inflation fears.
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