The China visit by Trump has ended officially… and barely Bitcoin flinched after all the flurry and excitement.
It seemed as though this was a trip that would dramatically change world markets for weeks. Rather, Trump came with the big guns and went with… 200 Boeing orders. Not 500 as many had thought — 200. Boeing's stock went down 4 percent immediately following the announcement.
In the meantime, the “big” issues, such as Taiwan, Iran and semiconductor tensions? Basically untouched. Muddy waters and few steps forward.
When it comes to $BTC, the response was as interesting as watching paint dry.
The short-term outlook is positive, although somewhat marginal, positive. This saw a slight easing of US-China tensions, followed by a little bit of a lift in risk sentiment, with Bitcoin recovering from just below 79K to above 80K.
But when the traders noticed that there wasn't some big secret buried in the press conferences, the old ‘buy the rumour and sell the news' strategy was immediately in operation.
Over time, there were no substantive changes either. This entire summit was more about avoiding chaos than opportunity, and Trump remains crypto-friendly while China still has not gotten any better when it comes to crypto allergies.
So what was the end result?
No disaster. No miracle. No moon mission.
It's likely Bitcoin will continue to ticker around until everyone says that the next meeting will be “the important one.”$WLFI
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