The vote on the cryptomarkt is anything but positive in recent days. The Bitcoin (BTC) course dropped by more than seven percent in four days, making the downward trend clearer. Yet there is hope. In Washington today an important event is on the agenda that can not only have political impact, but possibly also causes a change in the market.
Grote top in Washington
American President Donald Trump today receives Ukrainian President Volodymyr Zensky in the White House. Leaders of Germany, France, the United Kingdom, Italy, the European Commission and NATO are also joining. The meeting must force a possible breakthrough in the conflict between Russia and Ukraine.
Trump speaks of a “big day” and wants to create a sustainable ceasefire. Zelensky emphasized prior to the top that the ball is at Russia: “Russia must end this war, the war they started.” With the support of the United States and European allies, he hopes that Moscow will be put under pressure to force peace.
Last Friday Trump and Putin spoke in Alaska. Such a physical encounter with the Russian president has been extremely rare since the Ukraine conflict. The conversation lasted more than two and a half hours, in the presence of diplomats and ministers. Trump called the consultation “productive” and spoke of “great progress”, but concrete agreements were not forthcoming. Afterwards the disappointment dominates. The expectations were high, but both leaders remained vague about the content of the “progress” discussed.
Why is this relevant to Crypto?
The outcome of this peacetop can have major consequences for both the stock and cryptomarkt. Investors love certainty, and a geopolitics conflict ensures the opposite. Stability on the world stage has a direct influence on economic expectations. More rest often means lower inflation expectations, and therefore less pressure on interest rate increases.
Sanctions can also be relaxed or even terminated, which is beneficial for international trade and economic growth. The current bullmarkt among cryptos could thus get extra fuel. On the other hand, a failed deal can lead to new uncertainty. For the time being, fear mainly predominates on the cryptomarket.
Source: https://newsbit.nl/trump-maakt-zich-op-voor-een-grote-dag-cryptomarkt-kijkt-gespannen-mee/
