The price of bitcoin (BTC) opened the day higher just like yesterday, after a momentary drop at the beginning of the week below $90,000 (USD).
The market is now trying to recover USD 98,000. At the moment, the currency has reached USD 97,600 so far this morning, its highest in eight days. This is 10% below its all-time high of $108,000, reached a month ago.
In this way, after days of high volatility, bitcoin shows some stabilizationremaining within the range that has been around USD 100,000 for two months.
This panorama takes place prior to the publication of the United States consumer price index (CPI), which will be released today. Meanwhile, there are only five days left until Donald Trump is inaugurated as president of the United States.
After Trump’s victory in the elections in November, bitcoin has begun a rise to new all-time high prices, surpassing the USD 73,000 barrier that it maintained for months. Therefore, Expectations are growing that this bullish trend (shown below) will be reactivated with the presidential inauguration scheduled for January 20.
The bitcoin market hopes to see Trump fulfill his promises
Trump has made multiple promises for the bitcoin communityamong which the creation of a bitcoin federal reserve stands out. There is a limited amount of BTC in the world, so this initiative should be something extremely good for the market, commented Alejandro Estrin, country manager of the OKX Argentina exchange.
The Trump administration also aims to facilitate regulation for the growth of the cryptocurrency industry. In this sense, an upward impulse is to be expected due to comments or advances from the government that are friendly to the ecosystem.
However, Trump’s promises on digital assets could take time to come to fruition. Therefore, High volatility is possible during the first days of governmenteither with bullish or bearish reactions depending on their comments and movements in this regard.
In the long term, predictions for bitcoin remain mostly bullish. According to the investment company Bernstein, its price will reach USD 200,000. This is a figure similar to that predicted by Michael Saylor, the founder of MicroStrategy, the company that has the most BTC in the world, who envisions a rise to USD 180,000 in 2025.
More cautiously, other specialists are currently projecting lower price targets, such as USD 130,000. Beyond the different analyses, the general consensus is that the currency will reach new price records this year, driven by institutional investment, before entering a bear market.
