Bitcoin rises more than 120% in the year but since Donald Trump won as president of the United Statesthe crypto market had an extra boost that was accompanied by a strong rise in Cedears linked to exchanges, mining and cryptoasset technology.
Trump embraced digital assets during his campaign, promising to turn the United States into the “crypto capital of the planet” and accumulate a national reserve of bitcoins. While it is not known for sure how and when it will be, there has been a speculative rise in cryptocurrency mining and trading stocks.
On Monday, companies listed in the local market that flew up to 27.6%, as is the case of Hut 8, a cryptocurrency mining company that is dedicated to the operation of data centers.
But, in addition, the Cedears of the software company blew up Microstrategywhich advanced 23.1%; those of the cryptocurrency trading platform -based in San Francisco-, Coinbasewhich climbed 21.3%; and the Bitfarmsa leading global mining company Bitcoinwhich grew 19%.
Bitcoin: could it continue to rise?
In chat 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”, like the one we are passing through 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.
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 closed.
Source: Ambito
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