Bitfinex analysts predict that Bitcoin will remain rangebound and could rise to as high as $105,000 in January.
According to his predictions, Bitcoin will fluctuate between $95,000 and $110,000 by the end of the month.
In a recent market report, Bitfinex analysts commented: “We expect Bitcoin to continue a range-bound market trend as investors look to allocate capital across different asset classes. We predict Bitcoin will fluctuate between $95,000 and $110,000 by the end of January.”
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The inauguration of US President-elect Donald Trump on January 20 is seen as a potential catalyst for cryptocurrency prices. Expectations from the new administration include more favorable cryptocurrency regulations and improved economic policies in the United States.
However, Bitfinex analysts warned that the inauguration may not trigger a sudden price rally for Bitcoin: “We expect the new US administration to provide greater clarity on crypto policy, but we do not see the inauguration itself as a significant price event. On the contrary, it could pave the way for cryptocurrencies to face fewer obstacles in the United States going forward.”
*This is not investment advice.
Continue Reading: How High Will Bitcoin Rise in January? Will Trump Inauguration Ignite a Rally?
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