Just three more days The inauguration of Donald Trump as the next president of the United States. It is likely to have a huge impact on Bitcoin and the rest of the cryptocurrency industry. Bitcoin prices have already begun to move up. How high can it go?
Bitcoin then
Monday will see the inauguration of President Trump and the potential for a new era of pro-crypto policy. It seems like it wasn’t that long ago. Biden’s anti-crypto administration, along with the Securities and Exchange Commission (SEC) led by Chairman Gary Gensler, are trying to stop life from this new and innovative industry.
Could it be that the bank lobbies themselves are using all their influence to eliminate a single competitor from the picture? Or is it just that governments are afraid of disruptive and disruptive forces in the financial system?
bitcoin now
This is all in the past. President Trump appears to recognize that Bitcoin might be the thing to start having a positive impact on the impossible mountain of debt facing his country. It is for this reason that Trump could sign a potential Bitcoin Strategic Reserve when he takes office.
Although this is far from certain. But Trump’s appointment of pro-crypto members to key positions is likely to lead to unimaginable problems for Bitcoin and the crypto industry in general.
follow Poly MarketThe chance of Trump signing a cryptocurrency executive order on Day 1 is 52%, and the establishment of a U.S. National Bitcoin Reserve in 2025 is 60%.
Bitcoin breaks through – back to all-time highs?
Source: Trading View
The 8-hour chart for $BTC shows a breakout of the $102,000 downtrend line as the last reasonable resistance level, so if bulls can force the price higher, The next stop could be an all-time high above $108,000.
Bitcoin faces final resistance
Source: Trading View
The weekly chart of $BTC gives a perfect view of where the price is at right now. And in what direction can it go? It can be seen that not only is $BTC slightly at the downtrend line, but But it also depends on the large Fibonacci level 1.618 for the entire bull market. Progress here could mean more radical moves to come. On the contrary Rejection could bring the price back down to the main uptrend line again.
If a breakout occurs As confirmed above, the next big Fibonacci level at 2.618 will be at $155,600. 2.3 Fibonacci, another important Fibonacci level based on the previous bull market high, is at $138,600.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source link