April's activity in the crypto market increases expectations for price growth, with events around Trump's Liberation Day adding intrigue.
Trump's Liberation Day: A Turning Point for Crypto
The announcement of Trump's Liberation Day initially caused a drop in the crypto market, with Bitcoin falling 5% and Ether dropping 10%. While the impact of the tariffs remains unclear, analysts believe that changes could lead to a short rally. If tariffs lead to a recession or increased economic tensions, the Federal Reserve may lower interest rates, potentially increasing interest in riskier assets, including cryptocurrencies.
Bitcoin Eying $100K Mark
Bitcoin has shown signs of recovery, surging past $83,000. Leading analyst Enmanuel Cardozo predicts further gains in Q2, especially if the Federal Reserve cuts rates and Trump's policies favor the crypto market. However, analyst Min Jung remains cautious, highlighting the uncertainty surrounding tariffs.
Other Cryptos Join the Rally
While Bitcoin leads the way, other cryptocurrencies are also showing recovery signs. XRP has risen 2% to $2.10, Solana has gained 0.6% to hit $126. BNB, Dogecoin, and Cardano have also seen price increases, indicating an overall optimistic market sentiment.
April promises to be a pivotal month for the crypto market, and the outcome of upcoming events could determine its future direction.
