Bitcoin prices have surged above $90,000 as US President Donald Trump unexpectedly shifts his stance on proposed tariff hikes on China. Analysts believe this change in policy could be the catalyst for a price increase to $100,000.
Trump recently expressed a more conciliatory tone towards China, striking down escalating rhetoric and tariff threats. This shift has led to a rally in Bitcoin, with prices rising rapidly after months of sluggish price action across crypto markets.
The market’s response to Trump’s policy pivot is seen as a sign of de-escalation in US-China trade tensions. While discussions on whether China will respond to the new tariff plans are ongoing, Trump expressed confidence that a trade deal would be reached.
Key experts predict that easing tariff tensions and optimistic remarks about talks with China could trigger a surge in Bitcoin prices. They believe this could push the price above $100,000 once a US-China trade agreement is secured.
Source: https://bitcoinist.com/donald-trump-and-bitcoin