📢 Gate Square #Creator Campaign Phase 2# is officially live!
Join the ZKWASM event series, share your insights, and win a share of 4,000 $ZKWASM!
As a pioneer in zk-based public chains, ZKWASM is now being prominently promoted on the Gate platform!
Three major campaigns are launching simultaneously: Launchpool subscription, CandyDrop airdrop, and Alpha exclusive trading — don’t miss out!
🎨 Campaign 1: Post on Gate Square and win content rewards
📅 Time: July 25, 22:00 – July 29, 22:00 (UTC+8)
📌 How to participate:
Post original content (at least 100 words) on Gate Square related to
Bitwise said the US-China Trade War will cost the Dollar: Demand for Bitcoin will increase! - Coin Bulletin
The trade war between the US and China and policies aimed at the depreciation of the dollar may create positive effects for Bitcoin (BTC) in the long run.
US President Donald Trump's comprehensive import tariffs announced last week caused panic in global markets, leading to a drop in stock prices and negatively affecting risky assets. In this uncertain process, Bitcoin (BTC) and the prices of other cryptocurrencies continue to exhibit volatile movements. As investors' concerns grow, uncertainty increases amid market fluctuations and varying expert opinions, Bitwise Chief Investment Officer Matt Hougan suggested that policies regarding the dollar's depreciation would yield positive results for Bitcoin.
Hougan states that the US government wants a weaker dollar even at the cost of undermining the dollar's status as the reserve currency. The remarks made by Steve Miran, Chairman of the White House Council of Economic Advisors, on Monday also confirmed this strategy. Miran argued that the dollar's role as a reserve currency negatively affects the US economy and distorts currency markets.
Bitwise’s CIO Hougan thinks that the price of Bitcoin will rise with the weakening of the dollar in the short term. Since 2020, Bitcoin has generally gained value when the US Dollar Index (DXY) has depreciated. Hougan stated, "When the dollar falls, Bitcoin rises. I believe this pattern will continue,".
In the long term, Hougan believes that the global movement away from the dollar will further increase the appeal of Bitcoin. With the diversification of international reserve currencies, demand for digital assets like Bitcoin may rise in addition to traditional value storage tools like gold.
In the last 24 hours, as China's new tariffs shook the markets, the price of Bitcoin fell by more than 4%, dropping below the $77,000 level. Bitwise, however, predicts that by the end of 2025, Bitcoin will reach $200,000.