Teng posits that the economic uncertainty caused by global trade wars may drive long-term investors to consider Bitcoin as a reliable, non-governmental asset amidst macroeconomic unpredictability. He notes that Bitcoin’s price is particularly reactive to geopolitical events and policy announcements, especially those concerning tariffs, highlighting its sensitivity to global risk attitudes. In the context of rising global trade conflicts, Binance CEO Richard Teng has shared his insights on how these economic challenges could affect the cryptocurrency market, especially Bitcoin. As noted in a previous CNF article, Teng draws parallels between Bitcoin’s significance and that of money and the internet, echoing Changpeng Zhao’s belief that Bitcoin is becoming “inevitable.” He posits that although the market’s short-term responses may be unfavorable, Bitcoin’s attractiveness as a non-sovereign store of value might enhance its long-term prospects. In his tweet, he mentioned. There’s been considerable conversation surrounding the latest increase in tariffs, and I’d like to express my views on the implications this has for cryptocurrency markets, both in the present and for the future. The rise of trade protectionism is causing notable fluctuations in markets worldwide, and the cryptocurrency sector is feeling the effects as well. Temporary Instability Due to Trade Protectionism. Teng recognizes that the revival of trade protectionism brings considerable instability to worldwide markets, encompassing cryptocurrencies. In the near term, these macroeconomic uncertainties typically result in a risk-averse attitude among investors, prompting them to withdraw as they evaluate the changing dynamics of growth, policy, and trade. Teng included:
According to the CEO of Binance, global trade conflicts could potentially boost the growth of Bitcoin.
