Today’s London meeting, which began approximately eight hours ago, presents another valuable chance for two nations to thaw the icy relations between them.
The previous meeting held in Geneva last month provided some respite to the markets, but this proved to be merely a temporary solution. With the deadline of July 9th fast approaching, all trade partners outside of the UK are scrambling to sign deals with the U.S. in a state of panic. Additionally, the World Bank has released its much-anticipated report today. But why are these developments particularly significant for cryptocurrency investors?
Cryptocurrencies and Global Tariffs
What would be the potential outcomes of technical upgrades to the Bitcoin 
$109,761 network or the emergence of Nakamoto? For investors, the salient point is the impact observed in price charts. A network upgrade could lead to a surge of a few thousand dollars, while Nakamoto’s appearance could trigger fluctuations of tens of thousands of dollars.
Global customs tariffs impact the charts as significantly as the re-emergence of Nakamoto. This is why discussions surrounding global tariffs are of immense concern to cryptocurrency investors.
Last month’s Geneva agreement triggered a price surge of tens of thousands of dollars. Currently, discussions in London continue, and positive news is anticipated. Geneva ended more favorably than expected; similar outcomes from these discussions might lead to an agreement or a significant advance on that path. This could serve as a substantial catalyst for cryptocurrency growth, as tariffs have been a long-standing hindrance.
The World Bank and Tariffs
Today, the World Bank published the awaited economic report. They mentioned that due to Trump’s tariffs, there’s increased economic uncertainty, potentially causing a sharp global economic slowdown. Without swift recovery, this could lead to global recession and painful red candles on the charts, illustrating why tariffs are crucial for cryptocurrencies.
Currently, the World Bank does not foresee a global recession despite signs of economic weakening. However, the groundwork for the weakest decade in economic growth since the 1960s is being laid due to tariffs. The Economic Prospects Report predicts global production growth to decrease from last year’s 2.8% to 2.3%. Even in January, amid tariff discussions, the figure was reported as 2.7%.
“Once again, the global economy is entering turbulence today. Without a quick course correction, the damage to living standards could be profound. An agreement is better for all parties compared to alternatives.” – World Bank Chief Economist Indermit Gill
In summary, we are now at the last exit before the bridge, and today’s China-U.S. negotiations provide a crucial signal. The global economy faces significant risk, and trade partners like the U.S. cannot overlook these risks.
