Bitcoin Nears $90K as Economic Factors Help the Crypto Market
Bitcoin (BTC) is up by 2.86% over the last day, and it has been gradually climbing since the 10th of the month, indicating excellent potential for hitting $100K in the near future.
The crypto market is seeing some improvement early Monday morning after a relatively positive previous week, bolstered by the Fed decision to keep interest rates steady but promise two additional rate cuts later on in the year. The crypto market is also benefiting from recent news about upcoming tariffs that indicates that any further tariffs issued by Donald Trump will be more precise and less broad than his recent ones.
These little bits of promising news have been enough to spur some Bitcoin trading, and in the last 24 hours, Bitcoin trading volume has increased 130%. At the time of this writing, Bitcoin trading was increasing and was quickly heading to $90K.
Bitcoin Price Prediction: Has It Changed?
Any piece of positive news can help Bitcoin in the short term, but price predictions look at longer term trends. Arther Hayes, co-founder of BitMEX, says that Bitcoin will climb to $110,000 before it moves back down to $76,500. If that does happen, Bitcoin could lose its potential for a $150K price point by the end of the year.
The price of Bitcoin could easily reach $90K before the week is over, which could prompt further trading and help the coin climb to $100K in the near future. For that to happen, it will depend on a number of economic factors. A new tariff announcement is coming April 2nd, and this will be one of the key factors to influence Bitcoin’s price and the pricing trend of the rest of the crypto market.
If the tariffs end up being very broad, then Bitcoin will likely not hit $100K anytime soon. If the tariffs are more targeted as expected, then Bitcoin could weather the new tariffs and keep moving upward, albeit slowly, to a $100K price point by the end of April.
ABOUT THE AUTHOR
See More
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals