This is of course not a recommendation to invest in BTC or buy at this level. However, it would not be the first time – the latest being this post-election rally – that Bitcoin delivered these kinds of gains in relatively short periods.
Meanwhile, this projection is actually conservative compared to the price targets that top-notch investment firms like Bernstein have issued for the year as they believe BTC will reach $200,000 by year-end or at least at some point during.
The list of drivers and catalysts that could propel BTC to those heights is extensive with a pro-crypto President like Trump taking over the reins of the United States.
Trump Could Issue Pro-Crypto Executive Orders as Soon as He Enters the White House
Rumors have been circulating throughout the day about what Trump’s first order of the day could be once he enters the Oval Office and sources close to the President-elect have said that he plans to issue a series of executive orders that could benefit the crypto sector from the get-go.
In addition, Coinglass also reports that nearly $1.38 billion flowed to Bitcoin spot exchange-traded funds (ETFs) between Wednesday and Thursday, possibly as December’s cooler-than-expected inflation report infused hopes that the Federal Reserve may increase the number or magnitude of this year’s interest rate cuts.
One of the executive orders that Trump is allegedly weighing involves the creation of a crypto council advisory board and a strategic reserve of cryptocurrencies – from which BTC will be reportedly excluded.
However, any of these developments would be considered bullish for the crypto market as a whole as the federal government would be giving a huge pad in the back to the industry by embracing digital assets.
