How Donald Trump Banning TikTok Can Benefit Bitcoin

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Donald Trump (Courtesy: motherjones.com)

US president Donald Trump said that he might ban TikTok in the country or do something about it. However, his perception is still not clear and a final call still awaits from the White House.

On Sunday, major altcoins surged up to the peak at hit yearly highs. Ethereum rose up $427 before returning back to $380 while Bitcoin rose as high as $100,000 on Binance. Let us have a look at the kind of impact the ban of TikTok can bring into the current market scenario.

Bitcoin leads all the cryptocurrency as the major focus remains on it from traders across the globe. It has shown 0.5 Fibonacci retracement level of $12K before being rejected.  

On the Fibonacci tool on Tradingview, the next level to claim is 0.618, which sits at $13,500.

Meanwhile, Ether, which has rose over 60% has ran at the 0.236 fib. Ether makes a run-up to 0.382, that’s an ETH price of $660, and this is likely only the beginning.  

Now XRP rallied its way on Sunday as well. It has recorded a massive 188% move to achieve in order to reach the $0.85c fib target.

Users can still opt to get their hands on Bitcoin, Ethereum or XRP as it is expected that they will make a huge gain in this week.