Because the tariff struggle between the US and China escalates daily, Donald Trump introduced yesterday that they may impose a 104% tax on Chinese language items as of midday on Tuesday, April 9, 2025.
China has launched a counter-offensive, describing the US actions as “unilateralism” and “financial bullying”.
At this level, China introduced that it’s going to impose 84% tariffs on all imports from the US beginning April 10, 2025.
The growing tariff pressure between the US and China is negatively affecting Bitcoin and cryptocurrencies, because the mutual strikes of Trump and China are inflicting sudden declines in BTC.
With Bitcoin’s near-term value motion nonetheless unsure because of the macroeconomic uncertainty created by tariffs, former BBC reporter and cryptocurrency investor Glen Goodman shared his ideas on whether or not buyers can buy the dip following the current crash.
Chatting with CoinDesk, Goodman mentioned that it doesn't make sense to purchase throughout sudden and sharp declines.
Don't Attempt to Catch a Falling Knife!
Evaluating the present scenario in Bitcoin to a falling knife, Goodman mentioned that purchasing the dip means making an attempt to catch the falling knife.
At this level, Glen mentioned that when costs fall abruptly and quickly, it’s dangerous to attempt to purchase the dip as it may possibly result in losses.
Glen additionally suggested buyers to attend for the market to stabilize earlier than shopping for and taking any positions in Bitcoin.
Glen warned that any restoration within the present market atmosphere might be a possible “bull lure”, and famous that it makes extra sense to attend for the market to stabilize relatively than bounce in throughout a bull lure.
It's Nonetheless Early!
As speak of a bear market starting to unfold after the current declines elevated, Goodman additionally defined his ideas on the topic.
Stating that it’s too early to resolve whether or not the bull market in Bitcoin and cryptocurrencies has ended or not, Goodman said that Bitcoin's upward development has been sturdy since 2023.
Nonetheless, in keeping with Goodman, the current decline has raised questions on whether or not the uptrend will proceed. Glen mentioned that the bear/bull case for Bitcoin will be evaluated within the coming days when extra readability is obtained.
*This isn’t funding recommendation.
