A well-known crypto expert believes the market is poised for continued bullish momentum, even with Bitcoin (BTC) still trading under $100,000.
The analyst, known as The Flow Horse, outlined his belief that both Bitcoin and altcoins could see significant price increases in the near future. He suggests the window of opportunity for such gains could last until the second week of January.
This positive outlook is partially fueled by expectations that the incoming administration under Donald Trump will be favorable for crypto. Trump has expressed support for ending the U.S. government’s anti-crypto stance and even proposed a Bitcoin treasury to help stabilize the country’s finances. However, the analyst warns that this bullish sentiment may start to dissipate as the inauguration date approaches.
According to The Flow Horse, traders could be overestimating the extent of Trump’s ability to push his crypto-friendly policies through Congress, which could lead to a reality check once he takes office in January 2025.
The Flow Horse also cautions that the crypto market may reach a local peak around the time of Trump’s second term inauguration. He notes that many traders seem to be under the impression that crypto will continue to rise due to Trump’s presidency, but he believes the market could soon face a correction.
Looking at the broader economic context, the analyst emphasizes that capital remains more expensive than during the 2020 cycle, when low interest rates and stimulus measures played a key role in boosting the market. He warns that for the market to significantly outperform the previous cycle, there needs to be a solid explanation for how this will happen without the same level of support from credit markets.
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