Gold Hit ATH, Bitcoin Plunges—What’s Driving the Divergence?

Less than two weeks have passed since Donald J. Trump to the White House, cages have already shook with many controversial decisions. The last evening appeared on Saturday evening, when he imposed huge taxes on China, as well as its neighbors – Canada and Mexico.

Looking at the fact that his actions came during the weekend when only one financial market was open to trading, this market was expected to face music.

Bitcoin takes during the weekend

Trump’s tariff did not pass by 25 % on Canada without anyone noticing it, and the last prime minister, Justin Trudeau, kindly imposed the same tax on American goods. After Trump JustificationOn the pretext that these taxes aim to protect American citizens, as well as reduce the flow of drugs and immigrants who are not documented to the United States, Trudeau had this saying:

“We don’t want to be here; we did not ask for this.” However, it is Add His country “will not retreat” and that their revenge was a sign that they were “standing on the Canadians.”

With Mexico prepared answer China told challenge Trump’s tariff in the World Trade Organization, and the situation appears to be far from reaching the peak, and there is no escalation on the horizon. Moreover, the US president has a clause in the order he signed allows him to impose more taxes in the event of revenge on the above -mentioned countries, as it appears to be doing.

The political scene was exacerbated during the weekend, as Trump’s orders were signed on Saturday, and the only financial market open to the biggest blow. Being one of the trading assets on 24/7, BTC price to retreat From more than $ 106,000 on Friday to less than 98,500 dollars earlier today.

Gold hits ath

On the surface, gold prices procedures in the past few days appear to contradict the BTC actions. After all, the precious metal rose to the highest new level ever of about $ 2,820/ounces on Friday. However, the alloys also ran after their new climax and closed on Friday (Winier) with less than $ 2,800.

Moreover, the gold is closed, just like stocks and all other financial markets other than non -carbonies, to trade during the weekend, and therefore the effect has not yet been seen. Futures markets provide a few vision from the time of the press, so when the Asian trading session opens on Monday morning, you will reveal the true image behind Trump’s actions.

At the same time, the effect on Crypto and BTC also can also increase if more sale occurs in the next few days.