Trader Eugene: Global trade tariffs may be bearish for risk assets in the long term and will fade out of the crypto market in the short term
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News: Trader Eugene stated that the introduction of global trade tariffs marks a global order shift unseen in nearly 50 years, transitioning from free trade to protectionism, which will exert long-term pressure on global risk assets. He believes the possibility of Trump completely withdrawing the tariff plan is extremely low. Eugene pointed out that the most concerning issue in the crypto field currently is the structural decline in developer numbers. Compared to the previous cycle, not only is there a lack of significant progress, but the future prospects also appear more bleak. Previously, the market had hopes for ETF and regulatory expectations, but reality has fallen short. He stated that he will reduce operations in the crypto market in the coming weeks to months, and exploring new fields might be more meaningful at this stage. However, Eugene still remains optimistic about Bitcoin's long-term value and global acceptance, believing that "BTC reaching $1 million by 2035 is not a fantasy".
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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