Why Crypto Market Crashing Down?đ
Answer: "Trump aggressive Trade Policies"
The crypto market experienced a significant downturn on Monday, February 3rd. This downturn was triggered by aggressive trade tariffs, leading to widespread panic selling and the largest liquidation event of the year.
The sell-off resulted in a substantial loss of $400 billion from the total crypto market capitalization. This triggered liquidations that were more severe than those seen during the COVID-19 crisis and the FTX collapse.
Over $2.2 billion in leveraged positions were wiped out within hours, causing significant disruption and concern within the cryptocurrency industry.
Reason for Such aggressive policy?,đ¤đ¤
President Donald Trump says he will impose his tariffs over the weekend, gambling that taxing American companies for imported goods will ultimately punish the countries that make stuff Americans want â and bring those nations to the negotiating table. But itâs a risky bet that could easily backfire on American consumers and the economy.
In the United States, tariffs typically serve a limited but important purpose: They are intended to grow Americaâs economy by incentivizing the purchase of made-in-the-USA goods. They accomplish that by effectively penalizing American companies that buy foreign goods with high taxes.
Economists largely believe that, in limited circumstances, tariffs can be effective tools for economic growth. But Trump believes that tariffs have an altogether different purpose.
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