Currency Wars Bullish for Bitcoin Price? Optimistic Investor Thinks So
While Bitcoin (BTC) in the wake of the Great Recession, the cryptocurrency has never lived through a macroeconomic imbroglio or geopolitical spats.
But, ten years after the recession that shocked the world, is about to experience all the motions of a global crisis. And according to a number of prominent investors and analysts, this can only be good for the price of a decentralized, scarce, digital asset like BTC.
Bitcoin to Gain Steam in Currency War
Over the past few months, China has been with the United States. The two economic superpowers have been imposing tariffs on each other, resulting in dramatic tumult in the stock market and the relative value of their respective currencies.
Throughout all this, Bitcoin has managed to stay strong. As , since this latest trade spat started in May, BTC has gained over 100%. During the same time frame, the average asset class that Grayscale Investments analyzed has shed 0.5%.