Bitcoin Price Prediction as the Coin Dips
On Tuesday, Bitcoin (BTC) was recovering from a Monday dip to $83,778 (BTC/USD) and managed to gain a little ground in the early morning trading.
The leading cryptocurrency Bitcoin has been climbing back from a $74.8K low this month and is benefitting from Trump relieving pressure on traffic. As the stock market climbed back after some tariff policy changes, Bitcoin has also made a recovery. Now trading above $85K at the time of this writing, Bitcoin is pressing toward a higher support level and a healthier overall status.
Like the stock market, Bitcoin had plummeted in the face of heavy tariffs that would chase skittish investors away from the market as they buckle down and focus on buying only the essentials. Many consumers were prepared for a recession, but it looks like President Donald Trump is well aware of recession fears and is pulling back on his tariff plans for now. If he continues to be careful about how hard he presses the tariff issue, then the global economy could be saved from entering a recession.
What to Expect from Bitcoin’s Price
Over the past month, Bitcoin has only climbed 2.66%, but it could do much better during the last half of April. The coin may benefit from the promising earnings reports of several banks, including Bank of America, JPMorgan Chase, and Morgan Stanley all posted quarterly earnings that were better than anticipated.
Their excellent reports could help alleviate some of the fear that consumers, economists, and investors have about the future of the economy. If the banks can perform well even under the pressure that the stock market is under and with some fear of recession, then decentralized currencies like Bitcoin could do well too in the current economic environment.
Bitcoin still has a lot of ground to recover to get back above $100K, but the coin could manage that in the next few months. As Bitcoin has regained a lot of its lost value in recent days, it could move to $90K as soon as this week.
Today, Bitcoin achieved its highest price in two weeks. That could indicate the start of a bullish run, and the recent pause on tariffs and promising earnings reports from banks could be enough to propel it much higher for the short term. As soon as tariffs start to feel heavy again, though, investors will pull back from this coin. Bitcoin is also receiving a lot of support from its whales, with Metaplanet and Strategy (formerly called MicroStrategy) buying up millions in bitcoins over the last week. With continued heavy investment like that, Bitcoin has enormous potential to stay bullish for a while.
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