Cryptocurrency analyst known as The Crypto Dog, Bitcoin (BTC) $97,667.7 and other crypto assets could not continue their mobility in the first weeks of 2025. Making statements on the social media platform X, the pseudonymous trader stated that the market may follow a different course compared to the previous period as a result of the Presidential election.
Crypto Expectations for January 20, 2025
“It looks difficult for the market to return to the uptrend until the inauguration of President Donald Trump,” The Crypto Dog said. A similar prediction was made by Arthur Hayes. However, his prediction was about the period after January 20 in a different way. Hayes claimed on January 20 that Trump’s inauguration could start a major sales streak. However, markets have had a good start to January and despite the weakness in volume, BTC is lingering above $97,000.
The pseudonymous analyst stated that Trump’s inauguration on January 20 will serve as a strong catalyst to move Bitcoin and altcoins higher.
Looking at historical data, The Crypto Dog stated that Bitcoin gained value after President Joe Biden moved to the White House in 2021.
“You can observe the behavior of our instruments in January 2021… After a downward trend until January 20, 2021, there was an increase of over 100%.”
The analyst added that the same behavior was observed during the 2017 cycle and said, “The boom in 2017 occurred almost at the same time.”
Cryptocurrencies Review
The analyst said that although historical trends call for further consolidation, his position may become obsolete if the S&P 500 index continues to remain strong.
“Post-election January is almost exclusively bullish for stocks. “Bitcoin has been moving quite harmoniously since the launch of exchange-traded funds (ETFs).”
Despite what the traders say, no one can see the future and we will see what happens when January 20th comes.
According to analyst predictions, the future performance of Bitcoin and other crypto assets may largely depend on political developments. Investors can shape their strategies by following market trends in the light of historical data. Additionally, the crypto market’s relationship with general economic indicators can also play an important role in investment decisions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
