US President Donald Trump and his Chinese counterpart Xi Jinping have agreed to halt new trade tariffs for 90 days to allow for talks, the US says. Essentially, the massive macro-economic Trade War between the USA and China is currently in HODL phase.
At a post-G20 summit meeting in Buenos Aires, Mr Trump agreed not to boost tariffs on $200bn (£157bn) of Chinese goods from 10% to 25% on 1 January. China will buy a "very substantial" amount of agricultural, industrial and energy products, the US says. Meanwhile, Beijing says the two sides agreed to open up their markets.
BUT….How does this relate to Cryptocurrency?
Without going into boring economic detail, it means that the tension and stress in the wider economic market (between two superpowers - USA and China) are on the back-burner. So, the wider financial markets (traders, speculators, institutional investors) now:
Have the GREEN LIGHT to invest, trade and carry on as per normal
No current macro-economic risk of two world superpowers fighting with interest rates/inter-country trading and debt
Potential bearish scenarios which would play out due to a trade war are not front of mind, as both countries agreed to play this out safely
Essentially, Cryptocurrency Markets and wider traditional stock markets (ASX, Dow Jones, S&P Index, NASDAQ, etc.) are all free to trade without the fear of an inter-country Trade War ruining their day.
We’ve been calling it for months - a very BULLISH return to Crypto is on the near horizon and we will see a bullish return by the end of December 2018; Q1 2019 will be extremely Bullish.
Our PremiumProgram members have already been updated with WHAT trades to make and are in line to profit from the latest technical and fundamental analysis, performed on the current market.
As always, trade safe and ensure to keep your options open.