bitcoin Soars as Trade Optimism Builds
Bitcoin has enjoyed six consecutive weeks of gains, fueled by positive trade news. President Donald Trump’s announcement of a U.K.trade deal has boosted investor confidence.As of Saturday, Bitcoin (BTC) was valued at $103,700, just 4.4% away from its all-time high.
Simultaneously occurring, U.S. and Chinese officials are in Switzerland, aiming to reduce tariffs. China’s delegation, led by Vice premier He Lifeng, is expected to take a firm stance against Trump’s trade policies. A successful deal could lower recession risks and increase the likelihood of Federal Reserve rate cuts.
Analysts are bullish on Bitcoin’s future. Standard Chartered now predicts a year-end price of $200,000, admitting their previous $120,000 target was too low. BlackRock,the world’s largest asset manager,forecasts Bitcoin could reach $700,000 over time. They see it as a safe-haven asset, uncorrelated with stocks.
- Ark Invest projects Bitcoin at $2.4 million by 2030.
- Tom Lee expects $250,000 this year.
- Chamath Palihapitiya sees $500,000.
Robert Kiyosaki favors Bitcoin over gold and silver due to its limited supply of 21 million. Analysts note $40 billion in inflows into spot ETFs, with bitcoin’s exchange supply at a five-year low.
Technically, Bitcoin remains in an uptrend. It must surpass its all-time high of $109,300 for further gains. The likely price target is $123,000.
