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Bitcoin had an exciting weekend filled with sharp volatility and historic price movements, leaving the market buzzing with anticipation. The cryptocurrency pushed above the $108,000 mark, reaching a new all-time high (ATH) of $109,350. However, the rally was met with resistance, and Bitcoin quickly retraced to as low as $99,400 before recovering. The dramatic swings created a mix of optimism and uncertainty as the weekend closed.
Can you help answer these questions from other members on NexusFi?
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
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Speculation is that the new US administration/President will be a lot more crypto friendly than the previous administration (who were very unfriendly!). With the release of the $TRUMP and the $MELANIA meme coins I think that speculation has been confirmed. Question is will it go to far and turn all of crypto into a massive rug pull damaging good and bad coins alike.
Bull Cycle is approximately 365 days prior to halving, and another 365 days continuation after halving. This would put the cycle top somewhere around April 2025, thru August 2025 at the latest. This seems reasonable. I think we will either have the blowoff top this spring to $150k+, or chopsolidation until permabull next winter.
The permabull or supercycle theory, touts an extended bull cycle considering all of Bitcoin's tailwinds: Trump second term, nation states buying, US Strategic Bitcoin Reserve to purchase and hold 1 million BTC, Microstrategy, Sovereign wealth, Pensions, ETFs buying billions, increased active user count and wallet counts, increased adoption in a world of hyperinflation...which, combined, could send the price to $400,000+ over the next 24 months as Trillions could pour in to the market.
High-Tech Redneck