While making an appearance on CNBCs Squawk Box segment recently, well-respected crypto analyst Anthony Pompliano stated that the first big-name country to adopt Bitcoin (on a massive scale) will force other nations to follow suit and consider using the premier digital currency in a big way.
- As per the individual research of a former Deutsche Bank executive, Bitcoin’s real-time price movements serve as clear indicators of hidden geopolitical tensions spread all across the globe.
- Many analysts seem to believe that the USA’s ongoing trade war with China is causing BTCs price to fluctuate on a near weekly basis.
According to an all new article published by Forbes late yesterday afternoon, Peter Tchir – a former Deutsche Bank executive – believes that as we move into the future, it will become progressively harder for the various governments of the world to ignore the disruptive power of BTC.
Not only that, Tchir also added that Bitcoin’s frequent price swings can potentially be linked to China’s ongoing trade negotiations with different countries across the globe.
On the subject, the former bank executive pointed out that a number of historical indicators seem to suggest that BTCs recent value surge (which took place in May) was directly linked to the trade war that President Trump initiated with the Chinese regime so as to increase his country’s local employment rates.
As per Tchir’s individual research, the value of BTC/USD has been on the decline over the past few weeks.
To further strengthen his case, Tchir recently made reference to a tweet posted by President Trump in which he claimed that over seven million Chinese workers have recently lost their jobs due to his freshly sanctioned tariff cuts against the Eastern powerhouse.
Tchir also believes that Bitcoin’s price movements are seemingly related to various geo-political occurrences that take place all over the world on a day-to-day basis.
Additionally, he is of the opinion that in order for crypto traders to succeed within this market, they need to keep a close tab on the political happenings of the world.
“Is that a sign that the Chinese elite know they headlines are more negative than the reality of the situation? It isn’t a clear enough signal, but for now, I think Bitcoin is hinting that there is no alarm in China, which is positive.”