Is Bitcoin preparing for a price rally?
🏎️💨 🏎️💨 🏎️💨 🏎️💨 🏎️💨
At the time of writing this note, the price of BTC seems to be consolidating above $105,000 per coin. This is a good sign, as whales might see this price as an entry point. If that is the case, Monday's discussions could be a driver for the coin towards new all-time highs.
However, all of this is subject to the outcomes of the negotiations between the two delegations. Depending on how the atmosphere is perceived from the U.S. viewpoint, one could say that the chances of BTC rising are enormous.
From China's perspective, formal optimism is also expressed, but it is accompanied by suspicion and distrust. In a recent editorial from the Global Times (the Communist Party's media), it is stated that there is a pattern in the behavior of the U.S. This consists of having discussions, reaching agreements, and then breaking them with “particular” actions. This refers to the case of Taiwan and policies in the semiconductor sector.
As can be noted, the landscape of relations between Washington and Beijing is not very easy to read. This forces investors to be more cautious and wait for the developments of the meeting in London between the two delegations. The stability of financial markets in the coming weeks will depend on this. Both the price of Bitcoin and stocks could face a week of volatility.
