Bitcoin's True Face Revealed Amid Financial Market Shock... The Illusion of an 'Independent Asset' Has Shattered
As global financial markets fluctuate amid the trade war between the United States and China, Bitcoin, which has long claimed to be an 'independent asset,' has also seen its value plummet, drawing mixed evaluations. Bitcoin, which surpassed its all-time high of $100,000 in January, has now fallen to around $78,000, and particularly on April 6, it plunged to as low as $74,000. "Independent from the Market? That Was Just an Illusion" In a recent column, The Verge's Elizabeth Lopatto began with the somewhat sarcastic expression "Whoopsie daisy Bitcoin!" while criticizing Bitcoin's price drop. Lopatto pointed out that "the claim that Bitcoin is independent from the general market has now lost its persuasiveness." As the United States imposed 104% tariffs on Chinese products, and China retaliated with 84% tariffs on American products, global financial markets were engulfed in a major shock. Bitcoin was no exception as stock markets plummeted...