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Bitcoin and Altcoins Are Rising Even More with Trump's China and Interest Statements! - Coin Bulletin
Bitcoin and altcoins are continuing their rise, gaining momentum from Donald Trump's statements on China and interest rates, providing investors with some relief.
The President of the United States, Donald Trump, created a significant impact in the cryptocurrency market with his statements about trade relations with China and the Federal Reserve's (interest rates. Bitcoin and other altcoins gained value following Trump's statements.
Despite his criticisms of Federal Reserve Chairman Jerome Powell, Trump stated that he does not consider removing Powell from office. Trump, who argues that interest rates should be lowered at this time, expressed that he expects Powell to be more active and to move faster on interest rate cuts. These statements by Trump regarding interest rates have created a confidence-boosting effect in the cryptocurrency market.
On the other hand, Trump's statement that he plans to significantly reduce the 145% tariff imposed on China has also stirred the markets. Stating that "This rate will not be this high", Trump expressed optimism about reaching a trade agreement with China and announced that tensions between countries would decrease. These statements have particularly renewed investor confidence in the Asian markets, supporting the rise in Bitcoin and altcoins.
With the developments that occurred late last night, the Bitcoin rise gained momentum. Bitcoin reached $94,500 after a long hiatus, while major altcoins Ethereum )ETH(, Cardano )ADA(, and Dogecoin )DOGE( experienced increases exceeding 10%.
According to CoinGecko data, Bitcoin is trading with a 6.7% gain in value over the last 24 hours.