ChainCatcher news, according to Jinshi Data, Saxo Bank strategist John Hardy said that if the trade tariffs proposed by US President-elect Trump prompt other countries to find alternatives to the US dollar, the cryptocurrency market and gold may benefit.

Tariffs will have a terrible impact on global trade because it will cut off the supply of required US dollars, and the BRICS countries may use digital currencies backed by gold to trade.

Crypto stablecoins pegged to gold may also be used, and the crypto market may quadruple to more than $10 trillion, while the US dollar may depreciate by 20% against major currencies and 30% against gold.