The impact of tariffs on cryptocurrencies may have been 'priced', and the worst-case scenario is highly likely to have passed The impact of tariffs on cryptocurrencies may have already been 'priced', and the worst-case scenario may have passed. So far, tariffs have reduced economic growth by 2% this year. But Trump's so-called 'Liberation Day' may actually prevent the most severe pain felt by financial markets. If we see the tariff policy announced on Wednesday being both tough and phased in, and focusing on the 15 countries they seem to target, we expect the market to rebound due to this news. Once this announcement period is over, the cryptocurrency market may refocus on fundamentals, which are very positive. In addition, tariffs will increase demand for non US dollar currencies. Despite the current pessimistic market outlook on prices, we still believe that Bitcoin will reach a historic high this year.