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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin (BTC) In A Pole Position To Soar After Trump’s Recent Remarks

Dalmas Ngetich
Dalmas Ngetich
1 year ago
3 mins read
technical analysis bitcoin

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  • Bitcoin (BTC) bulls are firm, adds 4.2 percent
  • Slashing rates and weakening the USD is bullish for BTC

Because of Trump’s pressure on the Federal Reserve, the central bank could end up cutting interest rates. According to Pompliano, such a lax monetary policy could see capital flow to Bitcoin. In turn that will lift prices toward $100,000 by 2021.

Bitcoin Price Analysis

Fundamentals

There is a direct correlation between Bitcoin price expansion and global economic turmoil. A slip in the latter causes a sporadic rise in the other, and there is evidence.

With different jurisdictions applying different monetary policies fitting for the stability of their economy and fiat currencies, President Trump is concerned about the US position when it comes to protecting the greenback.

While the USD is a reserve currency influenced mostly by supply-demand forces, he claims otherwise for the Euro and the Chinese Yuan.

In a tweet, he calls for the US to “match the currency manipulation game”:

“China and Europe playing big currency manipulation game and pumping money into their system in order to compete with the USA. We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to play their games – as they have for many years.”

No doubt, should there be punitive tariffs imposed on the EU while the Federal Reserve slash fund rates, Bitcoin stands to gain as a safe haven. If anything, that would be the perfect primer for a bullish run that could see the asset blast to $100,000 by 2021 as per Pompliano projection:

“In August of last year, I predicted Bitcoin would go down to $3,000 before returning to $10,000. It essentially did that […] now I think it’s going to $100,000, but […] there will be more volatility: there will be parabolic runs like we saw in June and then there will be 20-30 percent drawdowns from that.”

Candlestick Arrangement

Bitcoin BTC

At the time of writing, BTC is down 9.2 percent from last week’s close. However, gains in the past 24 hours are modest to say the least. Building on the double bar bull reversal pattern from the middle Bollinger Band (BB), bulls have a chance.

Although a conservative approach will be to initiate long positions once prices rally above $14,000, aggressive traders can buy the dips. All this is thanks to yesterday’s upswing confirming bulls of July 1st and 2nd.

Unless otherwise there is a counter candlestick wiping out gains of July 3, buyers are in pole position to build on April through to June momentum.

Technical Indicators

Even if June 27 candlestick is visible, June 26 bull bar leads this trade plan. Any form of price volatility forcing BTC prices above $14,000 and June 26 high must be with high trade volumes exceeding 82k. Similarly, a counter candlestick wiping out gains of July 3 as BTC crumble below $9,500 must ideally be with high participation.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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