A cryptocurrency analyst, known as The Crypto Dog, predicts a quiet start to 2025 for Bitcoin (BTC) and other cryptocurrencies. He believes the market will remain relatively stagnant until President-elect Trump’s inauguration on January 20th.
A Presidential Prediction
The Crypto Dog, who boasts a large following on X (formerly Twitter), suggests that Trump’s swearing-in will act as a significant catalyst, potentially boosting Bitcoin and altcoins. He argues that the period leading up to the inauguration will likely see the market “pinned down,” with little upward movement. He points out that many investors hoping for higher prices might be disappointed in the short term.
Historical Precedents
The analyst supports his prediction by referencing historical data. He notes that Bitcoin experienced a significant rally in 2021 following President Biden’s inauguration and a similar pattern in 2017. He highlights that in both instances, the market saw a downturn until the inauguration, followed by a substantial price increase afterward.
Market Conditions and Caveats
However, The Crypto Dog acknowledges a potential exception. If the S&P 500 continues its strong performance, his prediction could be wrong. He points out that since the launch of Bitcoin ETFs, the crypto market has shown a strong correlation with the S&P 500. Therefore, continued growth in the stock market could also boost Bitcoin’s price.
Current Bitcoin Price
At the time of writing, Bitcoin is trading at $98,219.
Disclaimer: This information is for general knowledge and shouldn’t be considered financial advice. Always conduct your own thorough research before making any investment decisions.
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