The US President is going to announce a new trade deal with a respected country.
After the announcement, the price of Bitcoin surged from $97,759 to $99,140 at the press time. The market analysts are expecting Bitcoin to break the $100,000 mark soon and hit a new all-time high as the US President is going to announce a new trade deal with a respected country. On Wednesday, Trump made a Truth Social post mentioning that a vital trade deal with a big and highly respected country is set to be announced on Thursday. However, the country is not clear yet, and the market has already started making speculations. As per the data from CoinMarketCap, after the announcement, the price of Bitcoin surged from $97,759 to $99,140 at the press time. Now, the market is expecting that it will soon cross the $100k mark.
Market Leader’s Opinion
Charlie Sherry, the head of finance of BTC Markets, revealed that as everyone else was looking down and speculating that the price to go down, the price went opposite direction. She further added that it is most likely to happen that the trade deal is so far getting priced into Bitcoin. The co-founder of FOMO21, Neil Jacobs, posted on aX that the Bitcoin rally was mainly driven due to the recent announcement. Anthony Pompliano, a crypto entrepreneur, mentioned that the trade deal means odds are surging and we expect to hit new all-time highs this year. On January 20, Bitcoin hit a new all-time high of $109,000 on the day of Trump’s inauguration. The chief executive officer of Pandora, Sahib Anandsongvit, asserted that he can not stop thinking about how BTC was trading at $80,000 a few days ago and is now hovering around $99,000.
On April 11, the price of BTC was around $80,000, and on April 22, it rebounded to $90,000. On Feb 1, Bitcoin was last seen trading at $100,000, which was due to the imposition of tariffs on China, Canada, and Mexico by President Trump.
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