Bitcoin Outlook
Remember when we started the year, Bitcoin was at about $40,000. It looks like it’s going to close right around the $96,000 level. At one point, it had actually reached the $108,000 level before pulling back. That being said, I think we’ve got a situation where we are trying to find an equilibrium, and that’s essentially where we’re at New Year’s Day.
So when I look at this, I actually believe that sideways action makes a lot of sense. Not only does gravity need to be acknowledged, but we have the Trump administration coming in, which is much more friendly to crypto, but being friendly to crypto and actually doing something are two different things. So with this being said, I think, at least as things stand right now, I’m looking at about a $20,000 range between $90,000 and $110,000.
