Bitcoin has hit another new ATH of $108,900. Many see this as a sign the full bull run flag has been lifted. What do you guys reckon?
There has been massive volatility in the past couple of days but there we are seeing an incredible energy from Bitcoin again. This is precisely what I was discussing a few days ago. It seemed to me that Bitcoin was waiting for Trump's installation to the White House before attempting another climb, remember Bitcoin likes stability too, especially when it comes to the world's number one economic power.
(Donald Trump sworn in as new US President)
The parallels between 2021 and 2025 continue in my opinion as the four year process plays out. Remember it's not necessarily that Bitcoin has a penchant for Trump, more that it has a desire for economic, and to some extent, political stability. It has more of that now with Trump's inauguration.
But the politics may come into the Bitcoin equation more now in my opinion. We have never had a crypto friendly president before in the White House, so Trump's presidency has the potential to be a positive game changer for crypto. It's far too soon to say obviously but given his known opinions and support for crypto coupled with the release of his own memecoin crypto may just have an ally in President Trump. But we will have to wait and see.
Take a look at the latest Bitcoin 24 hour trading chart and see what Bitcoin has done.
(Source: CoinMarketCap.com)
There can be no denying the fact that the Bitcoin momentum continues and right now it's gathering a new energy for what will hopefully be more vertical movements and more new ATHs. And perhaps more importantly hope for what will be that elusive altcoin season.
Peace!