Bitcoin is rising due to potential agreement between the US and China
If the negotiations reach a successful conclusion, it would be beneficial for the bitcoin and cryptocurrency market.
BTC starts to regain ground as tensions between the US and China ease.
"Don't worry about China, everything will be fine," Trump assured.
Bitcoin (BTC) resumes an upward trend driven by signs of rapprochement between the United States and China. The digital currency trades this Monday, October 13, around 115,000 dollars, recovering from the sharp drop last Friday, when it fell to 103,000 dollars due to the uncertainty generated by the statements of US President Donald Trump.
The recovery began after a message from Trump on his social network, Truth Social, in which he stated:
Don't worry about China, everything will be fine. The highly respected President Xi just had a bad moment. He doesn't want a depression for his country, and neither do I. The United States wants to help China, not harm it!
Optimism is also supported by analyses from financial institutions. Economists from the Goldman Sachs group, including Jan Hatzius and Andrew Tilton, wrote that "recent policy moves suggest a wider range of possible outcomes compared to previous meetings between the United States and China."
They added that "the most likely scenario seems to be that both parties back off from the more aggressive measures and that the talks lead to an extension, possibly indefinite, of the pause in the tariff escalation reached in May."
If negotiations between Washington and Beijing reach a successful conclusion, it is estimated that the resulting stability could benefit bitcoin and the entire set of crypto assets (which tend to behave like 'risk' assets), consolidating its position as an alternative asset in a context of global volatility.
