Bitcoin $97,120.1 price At the time of writing, it is at $96,000 and altcoins continue the day in the green. The losses of the last few weeks of decline have not yet been compensated. K33 analysts shared their predictions about the path the markets will follow on and after Trump’s inauguration, January 20.
Will Cryptocurrencies Rise?
After the victory in November BTC price reached new all-time record levels. The positive sentiment in the market has been undermined due to the negativity experienced on the macroeconomic front since mid-December. K33 analysts are focusing on the date of Trump’s inauguration and say that under current conditions, this will not trigger a news sell event.
Although additional customs duties and other inflationary steps undermine the risk markets as a whole, the steps Trump is expected to take regarding cryptocurrencies balance this. Selling on this big event should now be considered less attractive, according to K33 analysts Vetle Lunde and David Zimmerman.
“November’s euphoria came and went as the S&P 500 closed its post-election gap and Bitcoin hit two-month lows. “Our monthly outlook favored selling at the open, but we are changing that strategy.”
The market was buoyed by Trump enthusiasm from November until mid-December, but caution and caution have prevailed since then. Analysts say that in the long run, Trump’s impact on Bitcoin will be net bullish.
The Future of Cryptocurrencies
In crypto, charts go up and people look for reasons. It may not make sense to expect anything more from a speculative market that, according to historical data, largely depends on demand. If we remember the previous cycles, we were listing reasons for the rise after many big movements.
We have experienced this in many major movements. ETF With his approval, markets crashed and some said BlackRock’s foray into crypto was killing it. Then the markets started to rise and everyone said the billions of dollars in inflows that came with the ETF approval were backing it up. So why did we see a decline with ETF approval?
Some developments seem certain to have positive effects on the price. For example, ETF approval is like this. However, it is meaningless for this to bring an immediate and immediate rise. This is also the case with Trump taking office. It should not be that surprising that the markets, which have been pricing in the expectation since November, took a break and continued their rise due to Trump’s crypto-supportive policies.
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.
