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.
Meanwhile, 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 prosperous deal could lower recession risks and increase the likelihood of federal Reserve 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 sees Bitcoin reaching $700,000 over time, citing its status as a safe-haven asset.
- Ark Invest forecasts Bitcoin at $2.4 million by 2030.
- Tom Lee expects it to hit $250,000 this year.
- chamath Palihapitiya sees it reaching $500,000.
Robert Kiyosaki favors Bitcoin over gold and silver due to its limited supply. 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 next likely price target is $123,000.
