Bitcoin rises together with stocks on Monday, Dollar remains weak

Bitcoin easily crossed the $85,000 price point and is likely to charge higher (if someone can at least take away US President Donald Trump’s smartphone this week).

Markets rallied on Monday after the White House announced over the weekend that laptops, smartphones and chips would not be subject to tariffs. The dollar continues to trade very weakly against his fiat counterparts.

Yen

It promises to be another very volatile week for both crypto and the stock markets. Although we expect fewer stock market related news conferences from Donald Trump (he has learned his lesson by now), we should expect a reaction from China or Jay Powell of the Federal Reserve (which is exactly what the White House is hoping for).

Bitcoin is moving higher, partly thanks to the weak dollar that continues to lose ground on Monday, also against the Japanese Yen and the Euro. Investors are more likely to move their investments to those two places now that China and the United States are on a collision course.

Sideways

For the king of crypto, it will now be crucial to break through the $90,000 barrier again before the end of the week in order not to get bogged down in another few months of sideways trading (probably between $75k and $90k). Meanwhile, analysts in the United States are waiting for some reaction from Jay Powell, chairman of the Federal Reserve. The falling dollar and some macroeconomic news could indeed trigger the Fed to take action.