The largest and best-known cryptocurrency in the world more than doubled its value from its low of the year, at US$38,505 and is currently trading at US$85,711.
Bitcoin (BTC) soared this Monday and reached an all-time high above US$85,000. The best-known cryptocurrency in the world is having a strong push for the expectations generated by Donald Trump’s electoral victory creating a favorable regulatory environment.
The largest and best known cryptocurrency in the world more than doubled its value from its low of the year in US$38,505 and is currently quoting US$85,711. During the campaign, Trump promised to turn the United States into the “crypto capital of the planet” and accumulate a national reserve of Bitcoins.
In conversation with Scope, Mauricio Novellico-founder of NW Professional Traderssaid that “now the question is what is coming in the short term, something that there is no way to predict. Yes, I firmly believe that it will continue to risebut the issue with investments is timing and Bitcoin, even though it is a currency, is still a financial asset.”
In this regard, he opined that “buy at all-time highs”, as it is now above US$84,000, “I don’t know if it’s the smartest decision, but maybe it is for people who already had open positions”. In this regard, he warned that, little by little, profit-taking will appear and that, As the price continues to rise, the exits will become larger and larger.
For Novelli, At some point a correction will come, since markets are cyclicalso it will be important to continue two key events: what will happen in the first months of Trump’s term and also what decisions will you make the Federal Reserve with the interest rate.
Bitcoin: how much can it rise between now and the end of the year
For Santiago AmatFinancial YouTuber and public accountant, BTC is going to go in search of US$90,000, but considered that it will be a resistance difficult to break because, on the one hand, It is a round number and, on the other, it would imply a very big rise.
“If we take the values before the elections, it would imply a rise of 32%. So I think that that would be the new resistance, Bitcoin’s new ceiling will be close to $90,000. However, the perspective is very goodprofit takers are going to appear, and it will only go for US$100,000 in 2025,” Amat concluded.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
