The crypto market was again on its shape again this weekend. After a decrease in the last few days, the fight between Trump and Zensky also came. Live on television the two went hard against each other. The hope for a peace deal seems to be off the table for the time being, which also has consequences for the cryptomarket.
BTC and ETH go down after collision
The conversation between the two was bizarre. Never before have political conversations been exhibited so open and exposed to the whole world. Trump even went so far to blame Zensky for “possibly provoking a third world war.”
Bitcoin (BTC) and Ethereum (ETH) both saw a significant decrease after the commotion. In the night hours we saw BTC from around $ 86,500 plummet below a course of $ 84,300. A sharp fall of 2.5% in two hours. Ethereum saw a slightly milder fall. The token saw its value with 1.8% bags to around $ 2,200.
The impact of the geopolitical tensions was clearly felt on the cryptomarkt. Not surprising, because cryptocurrencies are often seen as risky investments, and in case of uncertainty, investors usually look for safer ports, such as gold or government bonds.
How to proceed?
The market is not yet able to scribble back. At the time of writing, BTC and ETH only have a little higher, with races of $ 84,700 and $ 2,170 respectively.
The big question: what can we expect in the crypto market in the coming days? With the current uncertainty, in both macro-economic and geopolitics, it is quite possible that the decrease can continue. That’s what Raoul Pal, the CEO of Real Vision, thinks.
According to Pal, Bitcoin is not yet out of the danger zone. The crypto market has been showing weakness for days. For example, BTC has fallen by 12.3% in a week. However, the expert predicts further falls, possibly up to a price of $ 75,000. This would come out on an extra loss of another 12.4%.
But the positive one: Despite the short -term decrease, Pal sees no reason to panic. According to him, this is a normal correction within a bullrun, similar to the crash moments in 2017.
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Source: https://newsbit.nl/spanning-op-de-cryptomarkt-neemt-toe-door-ruzie-trump-en-zelensky/
