Bitcoin (BTC) had a nice day today anyway, but after a new jump, the luck can’t be beat. It now even seems to be one of the best days of the month. The digital currency is now above the important limit of $ 111,000 and the final push has been given in Washington.
Investors cheer over planned meeting
Around 7:30 PM, Bitcoin suddenly accelerated after the announcement from the White House that American President Donald Trump will meet his Chinese counterpart Xi Jinping next week.
In half an hour, the Bitcoin price shot up by about 1 percent from $ 110,200 to $ 111,300. Since midnight, the coin has already risen in value by more than 4 percent. Back then it could still be bought for less than $107,000.
Two days after the meeting, the US would impose a 100 percent tariff on all Chinese products. On Friday, October 10, Trump announced this tough measure, which resulted in the largest crypto crash in years. It was a response to China’s tightened export controls on rare earth metals.
Soon after Trump’s announcement, there was talk of a meeting between the two world leaders. Trump himself has also repeatedly confirmed that this would happen. But last Tuesday he suddenly said that the meeting “might not go ahead” after all.
Now it seems to be definitely on the agenda and according to the analysts of The Kobeissi Letter we can now prepare for the announcement of something like a trade deal. It could also be that the extra import tax is postponed for a while so that they gain some time to reach an agreement.
We are also seeing a positive reaction to the message from Washington on the American stock market. The Nasdaq is up more than 1 percent today and the S&P 500 can even sniff a new record.
‘Come on Bitcoin, don’t let us down’
Earlier today we wrote that it would be good news if Bitcoin managed to close the day above $110,800. Then, according to analyst Nebraskangooner, the path to $115,000 is open. “Come on Bitcoin, don’t let us down,” he now writes.
Last week the price was rejected at this resistance level and followed a decline of more than 10 percent in 4 days. It could well be that Bitcoin will soon get a second chance.
Source: https://newsbit.nl/bitcoin-koers-stijgt-naar-111-000-na-groot-nieuwtje-uit-het-witte-huis/
