Will Bitcoin (BTC) Hit $110K Before Donald Trump Takes Office?

2 weeks ago 20

The cryptocurrency marketplace has been progressively volatile implicit the past week. The world’s largest cryptocurrency Bitcoin (BTC), recorded a notable spike successful its price. The king coin had been lingering beneath the coveted $100,000 portion for a portion now. But arsenic we inch person to Donald Trump’s inauguration day, the plus managed to surge. This led to the assemblage widening their expectations and looking guardant to BTC signaling a caller highest earlier Trump takes office.

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Looking Into Bitcoin’s Weekly Spike

Throughout the past week, Bitcoin recorded a astir 8% rise. The plus went from trading astatine a debased of $92,371 each the mode to a precocious of astir $102,000. At the clip of writing, BTC was priced astatine $101,780.09, with a 2.10% spike implicit the past 24 hours.

Bitcoin is presently trading 6.39% beneath its all-time precocious of $108,268.45. This highest was achieved backmost successful December precisely a period ago. The assemblage believes that BTC could payment from Donald Trump’s inauguration and grounds a caller precocious earlier the event.

Also Read: New Bullish Forecast Predicts XRP To Hit $14: Ripple’s Lawyer Weighs In

Price Prediction

On Monday, January 20, Donald Trump volition instrumentality the oath of bureau arsenic the 47th president of the United States. Fireworks volition officially statesman the swearing-in ceremonies connected Saturday, January 18. In addition, the four-day itinerary volition diagnostic a Make America Great Again (MAGA) triumph rally connected Monday’s eve of the oath-taking, arsenic good arsenic 3 VIP events astatine Trump’s play spot extracurricular of Washington, DC.

According to information from CoinCodex, BTC surely has the imaginable to surge to the coveted $110,000 mark, but it mightiness person to hold longer. The steadfast revealed that the highest terms level that Bitcoin volition commercialized astatine is $107,161 connected the time of the inauguration. Therefore, the chances of BTC rising to $110,000 earlier Trump takes oath were diminished. Nevertheless, CoinCodex revealed that the plus could emergence to $128,399 aboriginal this month.