The effects of trade policies are not limited to traditional goods only, but also extend to modern and advanced markets such as the digital currency market. Among these policies, customs duties come as a tool that has a direct and indirect effect on cryptocurrency prices, even though they are not directly subject to these duties.
Indirect impact on the market:
When new customs duties are imposed, especially between major economic powers like the United States and China, the immediate result is an increase in trade tensions. This tension generates a state of anxiety and uncertainty in financial markets, driving some investors to flee from traditional assets and seek alternative havens like Bitcoin and other digital currencies.
Increased demand for digital currencies:
In times of economic crises resulting from rising customs duties, some investors turn to digital currencies as a way to hedge against traditional market fluctuations. This sudden demand may lead to a rise in cryptocurrency prices in the short term due to increased buying.
Is the relationship stable?
It is important to understand that the impact of customs duties is not always the same in form or strength. Some digital currencies may temporarily benefit from these policies, but if the trade crisis escalates, they may be negatively affected due to weakened liquidity or decreased risk appetite among investors.
Summary:
Although digital currencies are not subject to direct customs duties, the implications of these policies on the global economy affect investor confidence and market trends, making customs duties one of the important factors that traders and investors in the crypto market should closely monitor.