Bitcoin briefly rises above 85,000 US dollars

Bitcoin temporarily rose above USD 85,000 at the weekend. On Sunday afternoon, however, it slipped back below the USD 84,000 mark.

Timo Emden from Emden Research pointed to further signs of easing in the trade dispute between the USA and the rest of the world as a trigger.

On Saturday, the US government exempted smartphones, laptops and other important electronics from special tariffs against numerous countries, including China. According to Emden, the fact that the US has backed down again in its trade policy is raising hopes that the trade dispute may have reached its zenith. At the same time, investors are likely to bet on a major outcome in the trade dispute in the coming days and weeks.

According to Emden, monetary policy developments on the other side of the Atlantic could also continue to boost crypto assets. On Thursday, it became known that price pressure in the US had eased more than previously thought. Interest-free investments such as Bitcoin could benefit from the prospect of further falls in capital market interest rates.

dpa