Bitcoin has seen a 22% price jump in the last week - now trading at around $11,670, BTC was priced at well below $10,000 just 7 days ago. For a brief period, Bitcoin even settled above $12,000 USD today - it appears that the most popular digital asset is not phased by political turmoil and global trade wars.

As a matter of fact, Bitcoin seems to be providing a worthy shelter for those in doubt when it comes to traditional financial markets, which are being impacted heavily by the ongoing negotiations in the US-China trade war.

Last week, U.S. president Donald Trump was talking about introducing a new 10% import tariff on $300 billion worth of imports from China starting with September 1. The Chinese government is also playing its role, with the People's Bank of China (PBOC) managing and determining the price of the Chinese Yuan on an everyday basis.

What's the big deal?

Well, if you consider that Yuan has been recently valued and trading at a level we last time experienced during the global financial crisis of 2008, you'll get the point shortly.

Obviously, a cheaper Yuan gives the Chinese government an exporting advantage, and that helps in balancing the negative effects of the imposed US tariffs.

The constantly increasing tensions between Donald Trump and Chinese President Xi Jinping managed to pressure the traditional stock markets, devaluing the Yuan and affecting major tech stocks. So, is it possible that accredited investors, central banks, and even governments are seeking rescue in Bitcoin?

According to Max Keiser, a cryptocurrency investor and entrepreneur who invested in Bitcoin (BTC) when it was worth just over $1, this rally is just getting started. In a recent tweet, Max Keiser says that Bitcoin will "cross $15,000 this week", adding that the pump will be generated by central governments, as well as central banks, based on the fact that fiat currencies are at a multi-decade low.

The US-China trade war

The ongoing economic debate between the USA and China is not restricted just on a financial level. Sociopolitical factors are highly influenced by the situation, affecting not only the respective countries in the middle of the battle-fog but the concept of the economy itself on a global scale.

As the Hong Kong protests continue, the economy of the state is plunging due to thousands of canceled flights in and out of HK, withdrawals from the local stock exchange, as well as residents who prefer to turn their assets into digital currency in an attempt to avoid losing value.

Looking at the global financial state at the moment, we see a no-deal Brexit that devalues the British pound every day, a Euro that is trying hard to stay just above normal levels, the Chinese Yuan is already in cold-waters, and the USD could follow soon.

People, and at this point, even governments, realize that digital assets such as Bitcoin might be the only reliable haven to pass through this financial crisis. Although the tensions between the United States and China look like a well-practiced game of political ping-pong, it is a thin thread that will have unpredictable consequences on the global economy if broken.