US President Donald Trump’s announcement of customs duties on Wednesday, April 2, as a result of the uncertainty environment, both stocks and crypto markets were destroyed. Bitcoin (BTC) price withdrawn to $ 74 thousand. The ratio of BTC’s price to ETH fell to the lowest level of five years.
In addition to a universal customs duties of 10 percent of the goods imported in the tariffs announced, this rate can reach 50 percent in some countries. While imports from China are subject to 34 percent tax, imports from the European Union face a 20 percent tax.
Will the 1987 crisis repeat?
BTC news was traded for $ 74.688,00 as of writing. US stocks are among those who have lost significant losses with this decline. Both the S&P 500 and the NASDAQ compound index completed the April 4 trading session with a decrease of approximately 6 percent. Dow futures fell 5.5 percent.
Likewise, dark clouds dominate the Asian markets. Japan’s Nikkei 225 index fell to 8.9 percent on Monday morning. Taiwan’s Taiex index fell by about 10 percent after reopening.
In terms of market value, the world’s second largest crypto currency Ethereum (ETH) fell below $ 1,500. The total size of the crypto market was worth 2.37 trillion dollars as of news spelling.
The harsh decline in the markets caused speculation among investors and analogies were made on the collapse of the ”Black Monday” in 1987 on social media.
CNBC server Jim Cramer, on April 5 in his sharing on the X account, “I’m trying not to rush, but I can not see the October 87 scenario except for possibilities,” he said.
https://twitter.com/jimcramer/status/1908511332657222130
Bitcoin maximalist Max Keiser claimed that BTC will rise. “A mega collapse similar to 1987, Bitcoin, the safest port of the trillions of reserve, will push Bitcoin for 220 thousand dollars,” he said in his X sharing X sharing X.
https://twitter.com/maxkeiser/status/190862888145318356
“Crypto money finally starts to crack”
Peter Schiff, known for his opposition to Bitcoin, said that after the markets reacting to the markets with the new customs duties announced by Trump, the crypto currencies started to “crack” at the end of the crypto currencies, and I thought that the strategic Bitcoin reservoir of Trump would be to establish a strategic Bitcoin reservoir, but I was wrong ”.
https://twitter.com/peterschiff/status/1908940273050386618
