VOT Research Desk
The week began with bumpy price movement for Bitcoin (BTC), as markets were tense due to the Biden-Xi summit in early trading.
The meeting was of little significance, though, and the markets only saw the dollar moving in one direction as stocks were tossed from loss to gain.
With the price of Bitcoin set to return to $18,000 on Tuesday, anticipate seeing markets unsure of their direction. Several factors are in place to boost the price of BTC, and the current calm in the markets may cause Bitcoin to soar toward $18,000.
This would indicate that the red descending trend line is once again losing momentum. Even $19,036 may be in the cards for the end of November if the quiet persists and markets start to experience some geopolitical fatigue.
Peace negotiations may start, as Zelensky hinted in his remarks on Monday after visiting Chesson. But in this case, the devil is in the details. High-level negotiations between the US and Russia have already taken place, and it is evident that they are at a deadlock.
Because Russia still has a lot of nuclear weapons at its disposal and the ability to exacerbate the situation, the price of bitcoin is still in danger of falling below $16,020 and reaching $15,000 after such an escalating scenario.
