Out of surprise, U.S. President Donald Trump hinted at a possible end to a trade war with China, which created turbulence in the stock and cryptocurrency markets. This buzz could spark a rally in the cryptocurrency market, helping Bitcoin get back on track to $100,000.
“I don’t want them to go higher because at a certain point, you make it where people don’t buy,” Trump said. “So, I may not want to go higher, or I may not want to even go up to that level. I may want to go less because you know you want people to buy, and, at a certain point, people aren’t gonna buy.”
The statement comes after the U.S. imposed 10% tariffs on goods imported from other countries. However, the country is in talks with most countries, like Japan, the EU, and others, to negotiate on heavy tariffs.
On Tuesday, the White House announced tariffs of up to 245% on Chinese goods by citing “retaliatory actions.”
Will Bitcoin Surge to $100K If Trade War Ends?
According to Binance’s research report, the aggressive round of tariff policies has negatively impacted the crypto market. With every harsh trade war update, the crypto market reacts with high volatility, with investor sentiment swinging.
The report states, “If it shifts toward easing, the crypto market may rebound due to rising liquidity.”
According to some crypto experts, some bullish signals, such as a descending wedge, suggest an impressive breakout with a 14% hike. It could help Bitcoin to break the $90,000 mark. Despite its consolidation phase, the prediction still stays way below its all-time high of around $106,000.
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