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The price of BTC has reached $98,500 due to a consensus in Mexico, but recent reports suggest that crypto investors need to remain vigilant. A V-shaped recovery may be possible, but Trump must pursue avenues for compromise. The news from Mexico alone is enough to boost prices, and positive developments from Canada and China could further resolve the situation. So, what is the underlying issue?
Cryptocurrency Prices May Decline
According to a recent report by the Telegraph, Trump may soon announce tariffs for the European Union as well. Such a move could lead to highly risky outcomes for the global finance and trade systems, as well as supply chains and more. If Trump officially declares additional taxes on the European Union, cryptocurrencies could experience rapid losses once again.
The price of BTC had declined to $98,000 at the time of writing. The flow of news is currently more important for investors than the technical readings on charts. Perhaps seeing Trump’s determination will prompt the EU, Canada, and China to become more insistent on finding common ground with him?
