Is a new wave of Bitcoin market about to start?
The trends over the past few months have greatly mirrored those of 2023, with a strong surge in October followed by very strong upward consolidation, peaking on January 10th when the ETF launched.
This time, we are also starting to take off in October, with upward consolidation beginning at the end of November and early December, as buying pressure is too high for any significant drop. It is very likely that we will see another surge upwards to around 120,000 to 140,000 in January, perfectly aligning with Trump's and Musk's inauguration dates. I believe the probability of this trend taking shape is quite high.
In the short term, various news will influence the market. For example, tomorrow night, the world's largest company, Microsoft, will hold a meeting to discuss whether to invest in Bitcoin. The outcome is unknown; if approved, Bitcoin could see a surge of at least 10%, while if not approved, it may slightly pull back.
So, the overall direction is to see a peak of 120,000 to 140,000 by January 20th, and Dogecoin will also benefit from this. In the short term, we can look forward to Microsoft's meeting next Tuesday night.
This week also includes Powell's Federal Reserve interest rate decision; with a new official taking office, there will definitely be positive news!
