Tariff wars have a huge impact on the world economy, and this also has an impact on the crypto market which makes bitcoin prices struggle. Many hope that developed countries will immediately discuss and find a solution to compromise so that this tariff war will end soon. because this year's bullish season we are all waiting for the bitcoin price to reach a new ATH and the altcoin season will come soon.
some altcoins are still far from their ATH.
To be fair, even before all that tariff thing, many experts had been predicting an impending recession. Teump's policies only poured petrol on the fire.
On the positive note, with all that negativity and S&P/Nasdaq crashing, Bitcoin is still moving sideways without experiencing any serious dip.
Maybe expecting a rally in such conditions is just expecting too much.
For the records purposes as regards the causes of recession, during the Joe Biden regime, the US economy went into recession and it was not caused by increase tarff, in facts, the causes of recession as at the time was not because of increase tariff, i think the pandemic ( COVID 19) might be linked to the recession. However, recession is not limited to tarrif increase in a country but there are other reasons for recession like,
1.A decline in consumer confidence
2. rising interest rates.
3. Inflation
4. Financial crisis
5. Supply chain disruption etc
In think that generally, the current crypto market might be linked to the tariff war but it is certain that the situation will last forever, the Bull rull is active in my opinion.