CANADA JUST SAID THE 3 MAGIC WORDS! TRUMP JUST SAID IT'S NOT OVER!
My Financial Friend
Market Update
The market has been affected by the announcement of new tariffs by Trump, causing a plunge in the Canadian dollar and a drop in Bitcoin's price.
- The Canadian government is preparing a pandemic-level stimulus package, which has caused the Canadian dollar to fall to its lowest level since 2003.
- The US dollar has been strong, with the DXY index looking strong as well.
- The announcement of tariffs has caused fear in the market, with almost $900 million worth of crypto being liquidated on Friday.
Impact on Bitcoin
- The current situation could be beneficial for Bitcoin, as a massive amount of printing in other countries or in the US could create a more liquid environment and drive money to scarce assets like Bitcoin.
- There are no third-party controls or tariffs on Bitcoin, making it an attractive asset in times of uncertainty.
- Trump's investment in crypto, including $160 million worth of Ethereum, suggests that he is confident in the market's potential for growth.
Outlook
- The market is expecting more tariffs and uncertainty, which could lead to short-term shocks and volatility.
- However, the current setup could be a buying opportunity, especially if the market rebounds from the current support levels.
- The upcoming events, including the market futures open and big earnings announcements, could bring more volatility to the market.