Trump’s Inauguration Will Send Bitcoin to $250,000 or Drop Below $100,000: Analysts Weigh in

like Donald Trump As he prepares for his historic second inauguration next week, the excitement is palpable not only among his supporters but also within the cryptocurrency community.

The market was full of optimism, as reports indicated that the president-elect would do just that Announcing several measures To help the digital assets industry expand.

Naturally, speculation about market movements was high, especially for heavyweights such as Bitcoin Bitcoin/US Dollar.

Several of the analysts Benzinga spoke to offered interesting views on what to expect on January 20.

Will Bitcoin strengthen or rise?

according to Arthur Azizov, CEO of a cryptocurrency payment company B2BINPAY, A “gradual” increase over Trump’s four-year term was a more plausible scenario than an “immediate” 100% rise for all coins.

Azizov predicted that Bitcoin will consolidate after the open, giving altcoins room to rise.

“As for the price of Bitcoin, I think it may range between $100,000 and $102,000 next month,” Azizov added.

See also: Litecoin rose 12% after analyst said the altcoin is likely to have another ETF after Bitcoin and Ethereum.

Chris KleinCOO and Co-Founder of BitcoinIRAhe was confident that if it was expected Cryptocurrency-Friendly Executive Orders If enacted, it would encourage blockchain technology innovation and use of digital assets.

Among the proposals being evaluated for inclusion in the executive order is the creation of a national bitcoin reserve that would include the government’s existing bitcoin holdings. Such a move could have far-reaching implications for Bitcoin’s future valuations.

With these factors at play, Klein expressed confidence in bold forecasts, including future ones $250,000 per Bitcoin target By Wall Street Strategist Tom LeeSeems possible.

Joe McCannfounder and CEO of a cryptocurrency hedge fund AsymmetricHe added to the positive outlook, saying, “The worst is behind us.”

McCann stated that Bitcoin reclaiming the key psychological barrier of $100,000 was an indicator of positive sentiment.

“Although it is trading slightly below that at the moment, it is showing significant open interest with targets ranging from $125,000 to $150,000. This indicates bullish sentiment and expectations for continued price growth,” he added.

Is more clarity needed for Bitcoin to rise?

Meanwhile, Arthur Hayesco-founder of cryptocurrency exchange BitMEXHe took a contrarian stance, even predicting a correction from current levels.

“I think the price of Bitcoin will range between $90,000 and $100,000 until some of Trump’s economic policies are clarified and the rest of the world reacts,” Hayes told Benzinga.

Never before has the cryptocurrency community anticipated a presidential inauguration like this. While the true extent of the impact could not be precisely ascertained, there was no doubt that Trump’s policies, or lack thereof, would dictate how the market moved in the near future.

Price action: At the time of writing, Bitcoin is trading at $101,394.39, up 2.03% over the past 24 hours, according to Data from Benzinga Pro.

Image via Shutterstock

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