The altcoin market is currently facing a decline as investors are rushing to sell off their tokens, primarily due to the ongoing US-China trade war. With Donald Trump increasing tariffs on China to 125% and China retaliating with an 85% tariff on US imports, the situation has intensified. This trade war has created fear and uncertainty in the crypto market, potentially leading to further instability and even collapse.
Amid the US-China trade war, several altcoins have emerged as poor-performing assets that investors may consider selling. FTX Token (FTT), Toncoin (TON), Shiba Inu, Pi Coin, and a few others are among the top choices to sell during this period of market turbulence. FTX Token has experienced a significant downtrend following the collapse of the FTX exchange, with its recovery prospects remaining uncertain. Toncoin, which was once a top performer, has faced regulatory issues with Telegram and Pavel Durov, leading to its downfall. Shiba Inu, known as a top meme coin, is under scrutiny due to declining demand for such tokens and may struggle to recover amidst increasing competition. Pi Coin, a topic of discussion within the crypto community, has seen both significant uptrends and downturns, with regulatory concerns impacting its credibility.
The recent crypto market crash has resulted in billions of dollars in liquidations, with many digital assets losing the gains they made during the previous bull run. If the US-China trade war continues, the losses in the crypto market may further magnify. As a result, investors are advised to consider selling struggling altcoins like FTT, Shiba Inu, and others to mitigate potential risks. The current uncertainty in the market calls for a cautious approach, as the situation may evolve rapidly with changing geopolitical dynamics.
Overall, the US-China trade war is exerting bearish pressure on the crypto market, leading to increased volatility and uncertainty. As investors navigate this challenging environment, keeping an eye on struggling altcoins and making informed decisions based on market trends and developments is crucial. By staying informed and proactive, investors can potentially mitigate risks and capitalize on opportunities that arise amidst the ongoing trade tensions. As the market continues to evolve, adapting to changing conditions and maintaining a diversified portfolio will be key to navigating the challenges posed by geopolitical factors impacting the crypto market.
