on the crypto
As is known, when the economic and financial situation becomes complicated, it pushes many investors to opt for the so-called shelter goods, starting from gold. A behavior that gives them a real position income, pushing their quotations on the markets.
However, over the last few years Bitcoin has been added to the noble metal, now considered by a large number of investors a safe asset. A trend that should continue in the near future and could give considerable satisfaction to those who have decided to add the most famous of the cryptocurrencies to their portfolio, thanks to a series of outbreaks of crisis which seem destined to depress the stock markets to the advantage of safe haven assets. Let's see the main ones.
The escalation of the trade war between the USA and China
The greatest outbreak of crisis is at this moment represented by the trade war between the US and China. The eastern country, in fact, has shown that it has no intention of passively watching Trump's hostile moves and has reacted by devaluing the yuan. A move that sounds like a response to the White House tenant's statement that he intends to apply tariffs on another 300 billion Chinese exports from the first day of September.
The devaluation cannot be attributed to the moves of the People's Bank of China, but many observers are ready to swear that behind it there is the longa manus of the Beijing government. In this way, not only does China send a clear message to Washington that it does not have excessive fears, but it makes the life of US producers who export to the country of the Dragon very complicated. Considered as previously the ban on agricultural products from the United States, one can easily understand the discomfort of the rest of the world in the face of a situation that could get out of hand to the contenders.
Central bank policies
The trade war between the USA and China must then be added central bank policies, particularly the European one, well determined to continue to keep interest rates low even after Mario Draghi left the scene. While Christine Lagarde warms up the engines, the ECB has in fact reiterated that it wants to continue pumping money into the continental banking system, a policy that is practically draining current accounts, pushing savers to look around for alternatives to invest in.
The halving of BTC's rewards
Precisely for this reason Bitcoin is taking on the appearance of a safe haven asset, especially considered as more than one financial analyst is ready to swear in a real BTC escalation in the coming months. To push its price should be in particular the halving of rewards due to miners, scheduled for mid 2020, which should also have as its main consequence a decline in token production. An ideal scenario for those who have by now discarded the idea of keeping their savings immobilized on an account that does not guarantee any return.
