Will the price of Bitcoin reach $ 100,000 where the Crypto summit for Trump investors?

Bitcoin price fell on Thursday, as investors adopted a feeling of dangers amid the ongoing trade war between the United States and its most important trade partners.

Bitcoin (BTCIt was circulated at $ 90,000, an increase of 15 % from its lowest level this month, while American stock indicators such as Dow Jones, Nasdaq 100 and S&P 500 decreased by more than 1 %.

BTC has two main stimuli that may pay for $ 100,000 in the next few days. First, Donald Trump will host the first at all The top of encryption In Washington. This summit will include major industry leaders, including Ripple’s Brad Garlinghouse and Bian Armstrong from Coinbase and Paolo Ardoino from Tether.

The most prominent result at the top will be the launch of the Bitcoin Strategic Reserve by Donald Trump. This reserve can help increase the price of bitcoin due to the size of the government’s public budget.

One of the options is to convert the bitcoin that the government keeps in reserves. It currently possesses 198,109 coins worth more than $ 17.9 billion. Another option is to pay Senteya Lomes Bell Which suggests that the government buy and retain a percentage of 200,000 coins annually for a period of five years, a step that will lead to a great demand.

David Sachs, artificial intelligence and Crypto Czar, created these reserves, noting that the United States government sold 195,000 coins in the past decade. It raised $ 366 million of these sales, which is much lower than its current value of $ 17 billion.

Non -heroic salaries data

Another potential Bitcoin price will be on Friday’s salary statements in the United States. This report will provide more insight into the state of the American economy at a time when the large opposite winds face.

Wall Street expects to show the NFP report that the economy added 159,000 jobs in February, while the unemployment rate remained 4.0 %. There is a possibility that the job report will reduce expectations due to the functional cuts of Elon Musk. The ADP report issued on Wednesday showed that the private sector added only 77,000 jobs in February.

The weak NFP report will be upward for the Bitcoin price as it may increase the possibility of providing more price cuts.

Technical analysis of bitcoin prices

The weekly graph shows that the price of Bitcoin shows signs on the bottom after it decreased to $ 78100 last week. It remains over the rising trend line that connects the lowest fluctuations since August 5.

Bitcoin also formed the hammer style. The hammer candle has a lower shade and a small body, which is one of the most popular patterns of reversal. It also remains higher than the moving average for 50 days.

Therefore, the Bitcoin price is likely to rise with the bulls targeting the main resistance level at $ 100,000. This offer will be inaccurate if it decreases below support at $ 80,000.