On January 4, an analyst from Bitfinex predicted that Bitcoin could rise to $105,000 in January.
The Bitfinex analyst stated, “We expect Bitcoin to maintain a trading market trend within a range as investors seek to allocate capital into a variety of different assets. We predict that by the end of January, Bitcoin will fluctuate between $95,000 and $110,000.”
On January 20, the inauguration of U.S. President-elect Donald Trump could serve as a significant catalyst for cryptocurrency prices. Expectations from the new U.S. government include a more crypto-friendly regulatory policy and improvements to U.S. economic policy.
However, from the perspective of the Bitfinex analyst, Trump's inauguration may not immediately trigger a rally in the cryptocurrency market.
“We expect the new U.S. government to bring more clarity to cryptocurrency policy, but we do not believe that the inauguration itself will be a significant bullish event for cryptocurrencies. Instead, it lays the groundwork for a less obstructive path for cryptocurrencies in the U.S.”
