Bitcoin shows confident growth following the inauguration of President Donald Trump, known for his positive stance on cryptocurrencies.
Rising Expectations in the Crypto Market
Matt Mena, a cryptocurrency strategist at 21Shares, indicates that low inflation expectations and positive market sentiment are likely to aid Bitcoin’s breakthrough at the $100,000 level. "Surpassing this level will be a crucial psychological and technical milestone for Bitcoin," Mena stated.
Increased Volatility in Cryptocurrencies
The cryptocurrency market is anticipated to remain highly volatile. Paul Howard from Wincent noted that the Trump administration's upcoming regulations and strategic reserve announcements are not yet fully reflected in prices. "High volatility is inevitable this week," Howard commented.
Bitcoin Nears New Records
Nathan Cox, Chief Investment Officer at Two Prime, pointed out that Trump’s proposed national strategic Bitcoin reserve plan could cause significant market excitement. "If Trump announces his reserve plan, Bitcoin’s price could rapidly exceed previous peaks," Cox remarked.
The market eagerly awaits new initiatives and announcements from the Trump administration that could impact long-term trends and set new record levels for Bitcoin.
