Famous Analyst Evaluates Bitcoin’s Current Situation After Trump: Where Will BTC Price Go Next?

Bitcoin (BTC), which made a big attack before Trump’s inauguration on Monday and broke a new record by rising above $ 109,000, has been exhibiting volatile movements since then.

While it was disappointing that Trump did not mention Bitcoin and cryptocurrencies at all in his first speech, some experts warned that this uncertainty was negatively affecting the price.

However, 10X Research claimed in its latest report that the BTC price could reach $122,000 by February.

Markus Thielen, founder of cryptocurrency analysis firm 10x Research, stated in his latest report that Bitcoin could rise by 15% from its current price in the coming days, but then enter a consolidation phase.

Thielen used a year of BTC movements to make his prediction, noting that BTC has been following a pattern of $16,000 to $18,000 increases since spot Bitcoin ETFs were approved a year ago.

“If this pattern holds in Bitcoin, Bitcoin could not only reach $122,000, but it could also rise significantly above that level before retesting it as support.

But another consolidation phase awaits Bitcoin after it reached $122,000 in February.”

Thielen also noted that BTC rebounded after Donald Trump’s inauguration on January 20 and tested the $101,000 resistance level, further strengthening its bullish outlook.

Finally, the analyst added that Bitcoin’s rise on the price chart signals a potential “low-risk, high-reward entry opportunity.”

*This is not investment advice.

Source