On April 2nd, significant developments have been anticipated as Trump’s rhetoric intensifies regarding cryptocurrencies. The market has been in turmoil, but with only a week left until this pivotal day, more leaks have started to surface. In previous assessments, we noted a potential reversal of extreme fear, indicating that cryptocurrencies might see a rise.
Why Are Cryptocurrencies Rising?
The price of Bitcoin
$88,157 is climbing as extreme fears begin to balance out. As BTC surpasses $88,000, altcoin investors are starting to smile. The White House is narrowing its approach to tariffs that will take effect on April 2nd, applying mutual taxes against a number of countries that constitute a significant portion of U.S. foreign trade while likely eliminating several sector-specific tariffs, as suggested by claims made by the WSJ.
Last week, officials were reported to have discussions with various parties, indicating ongoing negotiations. Despite all the leaks, Trump has stated that there will be no exceptions.
When providing exemptions to a company, Trump insisted that “you have to do it for everyone.” He emphasized that “flexibility is an important word,” suggesting that there might be instances of flexibility in the future.
Today’s reports support bullish sentiment. As this article was being prepared, Trump stated;
“The U.S. will apply secondary tariffs against Venezuela. Any country purchasing oil or gas from Venezuela will pay a 25% customs duty to the U.S. starting April 2nd.”
