Trump extends to the China tariff, and the BTC price bounces star-news.press/wp

Before the deadline on August 12, US President Donald Trump moved to expand the cessation of definitions on goods from China. This extension of the date of tariffs in China sparked up of bullish feelings, which led to a rise in the price of BTC.

Trump extends the deadline for China, and the BTC price jumps

according to CNBC reportThe American president signed an executive thing that delays his proposed definitions on Chinese goods for another 90 days. This comes before the current deadline, which was appointed on August 12.

The BTC price jumped after this report, up to $ 119,800 at the time of the press. As Coingaa said, the main encryption was looking to move to his current It is absolutely high (ATH) from $ 123,000After a break above 122,000 dollars earlier in the day.

However, this bullish trend stopped with Bitcoin and decreased to less than $ 119,000 after the previous gathering. It remains unknown whether the news of the extension of the China tariff may lead to another direction or if this height is simply “bounced by the dead cat.”

It is worth noting that there is a CME gap lower than $ 119,000, which analysts like Titan of Crypto suggested that it will need filling before it continues towards the rise. The price of BTC is significantly filling these gaps most of the time.

Meanwhile, other factors can determine the movement of bitcoin in the short term to the middle of the period. This includes decreased inflation data in the United States and the producers’ price index on August 12 and 13, respectively.

The numbers are very important because they can support the September rate reduction if they show that inflation cools. There is currently 86.4 % chance for federal reserve reduction rates at the FOMC meeting in September.

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Alignafe Adeyemi

Boluwatife Adeyemi is a writer and editor of encryption news that covers topics that exceed several ports. Its speed and alacity covering uniform break updates. He has a talent to simplify the most technical concepts and make them easy to understand beginners in encryption. Boluwatife is also a lawyer, a law certificate from the University of Ibadan. It also holds a certificate in digital marketing. Away from writing, he is a fan of thirsty basketball, traveler, and part -time Degen.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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Why confidence: Coingaape: Coingepe has covered the coded currency industry since 2017, with the aim of providing useful visions to our readers. Journalists and analysts bring years of experience in market analysis and Blockchain technology to ensure realistic accuracy and balanced reports. By following our editorial policy, our book is achieved from every source, and verifies each story, and they depend on the reputable sources, quotes and media properly. We also follow a strict review methodology when evaluating exchanges and tools. From Blockchain projects emerging and launching operations to industry events and technical developments, we cover all aspects of the area of digital assets with a fixed commitment to the relevant information in time.

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