Bitcoin Price Prediction after China-U.S. Trade Deal

The cryptocurrency market continues to benefit from the trade deal that was announced between China and the United States. As a result, Bitcoin shot up quickly when the U.S. and China agreed to a temporary truce on tariffs that should last for 90 days.

Now, Bitcoin is valued at $103,682 (BTC/USD) and is benefitting from the lack of tariffs. The coin gained 10.56% over the last week, with much of that being added in the last few few days.

Bitcoin has lost a lot of ground this year as tariffs have crippled the coin’s recovery attempts. However, as long as the trade deal is in place, Bitcoin has more freedom to reach its potential.

Can Bitcoin Reach $150K This Year?

The coin has gained back a lot of lost ground and is headed toward record highs, if the current upswing continues. There is still some distance to go to reach the record of $109,114, but it is conceivable that Bitcoin could achieve that in the next couple of weeks.

After that, the coin’s momentum may slow, but it could still continue to rise over the short term.

Image: Bitcoin could hit new highs this year. Source: Best Forex Brokers

Bitcoin could go much higher than it ever has before thanks to a combination of factors. Bitcoin has passed $100K a few times this year, and the only thing really slowing it down has been tariffs. Now that those are on pause, investors are more likely to plunge ahead with Bitcoin and see how high they can push it. However, there will be some fear that the tariffs will resume and cause Botkin’s value to crumble again.

What that may do is cause investors to stock with the coin for the short term but get out as soon as they make a tidy profit. We expect the whales to pump up the Bitcoin value as well for now, with MicroStrategy likely leading the way on this push.

Bitcoin could hit $120K before the 90-day tariff pause is over, and if it does, it is conceivable that the coin could reach as high as $150K by the end of the year. For that to happen, though, the United States will have to figure out what to do about tariffs and will have to back down on some of the aggressive trade policies. As long as there is worry over when tariffs will come back in force, investors will be wary about putting too much money into Bitcoin.

An interest rate cut is scheduled within that 90-day window, which could boost Bitcoin even more, so investors need to watch out for that. The next rate cut could happen in June or July of this year.

Bitcoin has gained 65% over the last 12 months, and it could go much higher, but for the short term, we are seeing a slowdown. The coin has lost 0.18% over the last 24 hours as the trade news hype runs out of steam.