Forbes: Trump decides Bitcoin price trend in 2020

This week Forbes wrote that next year's US presidential Trump election and the Sino-US trade war will determine the price of Bitcoin.

According to the article, the price of bitcoin, the cryptocurrency with the highest market value, is related to the Sino-US trade war. At present, Sino-U.S. Trade negotiations have made progress, so the price of Bitcoin is slowly and steadily falling.

Although the positive incentive effect of the trade agreement between the two countries on the stock market is huge, it is bad news for the crypto market because it reduces China's demand for this safe asset that is far from trade disputes and not affected by the devaluation of the yuan. .

So we can see that when the two sides negotiate anxiously, the price of Bitcoin will rise, and when the two sides make progress, the price of Bitcoin will fall.

From the perspective of Bitcoin's price curve, the cryptocurrency is trading in a declining channel, and it may soon fall to a year-round price low. However, if the Sino-U.S. Trade war resumes disputes, it may rebound to break through $ 9,000.

Now, two possible key factors in deciding are whether President Trump will be elected next year.

If he is likely to win the election next year, China will hope to reach a settlement as soon as possible, and the two sides may reach an early agreement because China does not want more serious negotiations after Trump really wins.

If Trump does not prevail in the election, the two sides may find it difficult to reach a settlement and Trump will attack China as a campaign strategy. As a result, the trade war will become more intense, which will increase the price of Bitcoin.

So, if Trump prevails in the election, Bitcoin will fall, otherwise Bitcoin will rise. But when the election dust settles, the price of Bitcoin may reverse.

Image source: Pixabay

Author Xiu MU

This article comes from bitpush.news. Please reprint the source.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Will FTX liquidating $3.4 billion worth of crypto assets become the main culprit behind the market crash?

For FTX's legal team, this week will be a busy one as they seek regulatory approval to liquidate $3.4 billion worth o...

Blockchain

Where is the decentralized Chuhe Han Realm? Which is the trend?

❖Centralized Exchanges ❖ The reason for the closure of Fcoin is that the trading platform cannot be res...

Blockchain

IEO’s embarrassment, the era of “receiving wages” may be gone forever.

"Oh… the market is in a downturn. Recently, the standard of living has plummeted." The soldiers sighe...

Blockchain

Blockchain investment: which "platform coin" has more investment value?

In the last lecture, I analyzed the "privacy currency" field in the blockchain industry. In this lecture, I...

Market

Semafor The US Department of Justice is considering fraud charges against Binance, but is concerned about a FTX-style run in the market.

Insiders say that federal prosecutors are concerned that if they were to prosecute Binance, it could lead to a run on...

Blockchain

Why is the bitcoin trading volume of Korean first-tier exchanges difficult to recover?

Source: LongHash As the country with the third-largest crypto exchange in daily trading volume (after the United Stat...