A potential price reaction to prices can give a commercial deal between the United States and China an insight into whether Bitcoin is used as a safe origin in the current market.
Bitcoin (BTC) outperformed the shares and took “incredibly strong” during a sharp sale in the stock markets in April, after Donald Trump announced the definitions on “Tahrir Day”, Note Daan Crypto on May 11.
After declining to $ 75,000 on April 7, Bitcoin has recovered strongly to trading 27 % at about 95,000 dollars by the end of the month. Meanwhile, indexes such as S & P 500 and Nasdaq fell in April.
At that time, people asked whether the relative Bitcoin power came from the narration that the countries were using Bitcoin to overcome the definitions. The analyst said the opposite should be theoretically if the commercial deal is confirmed.
“In theory, if the business uncertainty was what was superior to BTC, it must stop performance after we face the most important deal, which includes China.”
Bitcoin’s performance since the “Tahrir Day” tariff was announced. source: Dan Chefir
On May 11, the White House announced that the talks between the United States and China on a commercial deal made “great progress”. However, no official agreement has been announced.
Related to: Bitcoin should close the week higher than this level to start “Discovery 2”
“We will provide the details tomorrow, but I can tell you that the talks were fruitful,” said US Treasury Secretary Scott Beesen.
However, if Bitcoin continues to do something and outperforms performance, “it is safe to assume that the customs tariff most likely has a little direct effect on how BTC is dealing or using it.”
Markets awaiting the announcement of the commercial deal
However, some analysts believe that Bitcoin is likely to jump if a commercial deal comes, along with potential price discounts.
“We believe that institutional investors are less fearful of investing in Bitcoin and Crypto, where US -Chinese trade talks have reached a result and the possibility of price reduction rises,” Jeff Mai, the chief operating officer at BTSE, told Cointelegraph.
At the same time, Jupiter Cheng, a researcher at Hashkey Capital, said, “The United States of China’s business can indicate stability in global markets, and may push investors to search for growth opportunities and send capital to alternative assets,” said Jupiter Cheng, a researcher at Hashkey Capital.
“Bitcoin can also see new levels of levels as a result, especially if the deal weakens the dollar or leads to renewed liquidity flows to emerging markets.”
The analyst will Clemenete He said In X, the strong advertisement of a commercial deal is likely to maintain a momentum.
He said: “You feel like you will need a real and tangible advertisement on the China front to keep things moving here locally, as the momentum began to stop on BTC for the first time in a bit.”
magazine: Bitcoin ‘eyes crazy numbers,’
Related Articles
