Bitcoin Trickling Upward ahead of Major Market Surge
Bitcoin (BTC) does not look like it is heading back down for now, as we have seen steady progress upward over the last few days. Since the start of January, Bitcoin has been climbing.
We expect that the coin will continue to do well and stay above the crucial $90K level. If it falls below that, then market confidence in the coin will definitely waver. Currently priced at $96,629 (BTC/USD), Bitcoin has gained 5.7% since December 30th. The coin is showing remarkable progress after its recent downturn- a sharp price correction brought on by a long and unexpected bullish trend.
We are seeing Bitcoin recover now, though, and it continues to climb slowly and gradually as the market anticipates the next bull run. Another bullish trend from this coin as well as the wider market is expected near the end of the month, leading up to the moment where Donald Trump is sworn into the office of the US presidency on January 20th. His cryptocurrency plans are expected to lift up the market over the long term, and he has strategically positioned himself as the pro-crypto President- a first since Bitcoin hit the market 16 years ago to this day in 2009.
Bitcoin Expected to Skyrocket
There is some market hesitancy right now, with the smaller investors holding back on cryptocurrency as they deal with the recent losses. The crypto whales are still buying this coin up in droves, though, with MicroStrategy boldly purchasing billions of dollars in bitcoins in recent weeks.
However, a few whales have offloaded their Bitcoin over the New Year. $72 million was deposited by one whale into their Kraken account on New Year’s. Several other whales helped to head a trend of selling off around the same time, leading to a Bitcoin price drop to $91K.
That is somewhat expected after a bearish trend took over the coin for a short period of time at the end of December, but it looks to be turning around now. Bitcoin is climbing again, and the future looks very rosy for the coin as we look toward the end of January and early February.
We anticipate the coin will rebound in a big way once Trump is sworn in. There is also another interest rate cut coming later this year that should give the coin a boost. Trump taking office, though, is expected to be the next big catalyst for the crypto market to surge, and we expect to see the coin shoot above $100K again at that point, if it has not already done so by then.

