Bitcoin is facing a challenging period, maintaining a low profile at $92K. The DOJ’s court approval to sell Bitcoin is causing market panic and liquidity issues in the coming weeks. Many see this as politically driven by Biden's administration to suppress Bitcoin.
Impact of Court's Ruling on Bitcoin
The recent court approval from the DOJ to sell Bitcoin has induced panic in the market. This move is seen as an attempt to suppress the cryptocurrency and create obstacles for Trump's crypto policies.
Analysts' Predictions on Trump's Crypto Initiatives
With Trump's inauguration approaching, some volatility is expected. According to Anthony Scaramucci, a former White House communications director, cryptocurrencies are set to thrive under Trump's administration. He anticipates the introduction of a Bitcoin Strategic Reserve in the first 100 days to bolster investor confidence in the US government. Scaramucci sees pro-Bitcoin appointments, such as Paul Atkins and Eric Trump, as positive signals for the industry, aiming for fair regulation and market support.
Bitcoin Price Prospects in 2025
Scaramucci's outlook on Bitcoin’s long-term prospects remains bullish despite its inherent volatility. He predicts that Bitcoin could reach $200,000 by the end of 2025. Scaramucci compares Bitcoin's current status to the early days of the internet, indicating immense growth potential with technological advancements and widespread adoption.
While short-term Bitcoin price fluctuations are expected, the long-term outlook for Bitcoin and the broader crypto industry remains highly optimistic.
