Editor's PiCK
[Analysis] "Bitcoin Rally Due to Trump Effect...Possible Adjustment by End of Month"
Suehyeon Lee
Summary
- The recent rise in Bitcoin is said to be due to expectations for Trump's second administration.
- It is predicted that Bitcoin's upward trend is likely to continue until before Trump's inauguration.
- There could be a price adjustment ahead of the Federal Open Market Committee (FOMC) meeting on January 29.
The recent rise in Bitcoin (BTC) is attributed to the anticipation surrounding Donald Trump's second term as U.S. President, with analysis suggesting that this rally could weaken by the end of the month.
On the 6th (local time), 10x Research released a report stating, "The current Bitcoin rally is driven by expectations for Trump's second administration. This could weaken by the end of the month."
The report further noted, "Bitcoin may see an upward trend due to optimism if macroeconomic indicators are positive before Trump's inauguration on January 20. However, an adjustment could occur ahead of the Federal Open Market Committee (FOMC) on January 29. The expected price range is between $97,000 and $98,000."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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