Bitcoin At $120K? Trading Firm Makes Bold Prediction About Trump Reserve Plan
Since Donald Trump won the US national elections, many observers aren't shocked by Bitcoin's recent price spike near $80,000.
Speculation over a Bitcoin strategic reserve and the Bitcoin Law has pushed some market experts to make even bigger predictions.
Crypto specialists like QCP expect the top digital asset to reach $120,000 shortly.
QCP attributes the asset's pricing to incoming President Donald Trump's government, the desire to construct a strategic BTC reserve, and updated US inflation statistics.
Favorable Market Conditions Increase Bitcoin Price
Bitcoin reached another record $93,120 this week, bringing the entire cryptocurrency market valuation to above $3 trillion.
The increase followed the US government's inflation figures, which showed headline and core inflation at 2.60% and 3.30%, respectively.
Analysts expect a 25 basis point rate drop from the December Federal Open Market Committee. Many believe monetary policy changes enhance risk-based assets like Bitcoin.
A Twitter/X post by QCP Trading says Bitcoin will reach $100k to $120k. The government's prospective move from gold to digital assets and ideas to build a BTC strategic reserve promote BTC price action, the report continued.
QCP warns against cryptocurrency overleveraging. The company claimed that heavy-leveraged purchasing has raised permanent financing rates by 50% to 100%.
This situation raises deleveraging risk, lowering prices.
Some analysts see BTC price rise continuing
Besides QCP, other experts and financial organizations are watching Bitcoin's upward development. VanEck's Matthew Sigel is likewise confident about digital asset pricing.
Bitcoin's price has risen 30% since the elections, and VanEck's indications suggest it will continue.
After Trump and other crypto-friendly figures were re-elected, Sigel noticed the market's positive view of Bitcoin. VanEck expects the alpha coin to reach $180k next year.
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