The Goldman Sachs (a multinational investment bank) has decided to study the impact of ongoing trade war between USA and China and its impact on Bitcoin prices and concluded that it may well be bullish for Bitcoin and predicted that the trade war won’t end till 2020 US presidential election. 3 lead economists of the bank, Jan Hatzius, Alec Phillips, and David Mericle have authored, “Overall, we have increased our estimate of the growth impact of the trade war.”
Bitcoin has steadily emerged in a better position gaining more than 130% since the start of 2019, thanks to trade war between two large economies, USA & China. The traditional safe haven for investment US bond market has hit China starting to sell off US Treasuries due to trade war, the precious metal also facing volatility. Investors worried about deglobalization from the trader war have turned instead to cryptocurrencies.
Federal prosecutors are following up on civil lawsuits against Huawei by launching a wider investigation into the company and its trade practices. Although the controversy surrounding Huawei is nothing new, the alleged criminal investigation could widen between American and Chinese trade delegates at a time when both sides appear to be making important progress on a bilateral deal.
Panos Mourdoukoutas, Professor at the Department of Economics chair at Long Island University said, the trade war between China and the United States was a major issue in 2018 due to heightened nationalism and protectionist policies across the globe. However, in 2019 with global corporations and financial markets expected to pressurize the two countries into inking a deal.