Bitcoin’s price has been impacted by global trade tensions, but its long-term prospects remain positive according to Binance CEO Richard Teng. He believes the market could find itself bolstered by economic instability, seeing Bitcoin rise as a hedge against macroeconomic disruptions. 📈
Teng argues that while short-term volatility is likely due to escalating trade wars and tariff proposals, investors may ultimately see digital assets as a safeguard against unpredictable economic shifts. This potential shift in perception could drive demand for crypto and further fuel the growth of decentralized finance (DeFi).
He emphasizes that increased protectionism, currently playing out on the global stage, is causing volatility across markets, including Bitcoin.
Teng highlights that while short-term market fluctuations may trigger a risk-off response from investors. However, in the long run, he anticipates accelerated interest in crypto as a non-sovereign store of value. Long-term holders are likely to see Bitcoin and other digital assets as resilient during periods of economic stress,
Bitcoin has been affected by recent tariff shocks, leading to price dips below $80,000. Despite these short-term fluctuations, Teng maintains a bullish outlook. He believes Bitcoin can serve as a resilient store of value during times of economic stress and policy shifts.
The recent market response to rumors of a potential 90-day tariff pause further demonstrates Bitcoin’s resilience. Although the news was later debunked, Bitcoin mirrored this rally, rising 6.5% and briefly surpassing $80,000. This highlights Bitcoin’s potential for continued growth even in uncertain economic conditions.