Gather ’round, dear readers, for a thrilling tale of Bitcoin, tariffs, and the US government’s next crypto move! Yes, you heard it right. Our beloved cryptocurrency might be on the verge of a ‘decisive price move’ in the coming weeks. So, grab your popcorn and let’s dive in!
Some analysts, with their crystal balls and secret decoder rings, anticipate that the direction is likely to be… *drumroll* … UPWARD! Why, you ask? Well, because Bitcoin hasn’t fully priced in the US government’s pro-crypto stance yet. Now, isn’t that something?
Clearer signals on Bitcoin’s price in the coming weeks
Our friends at Bitfinex, in their recent markets report, said that Bitcoin could shift, especially as more macroeconomic developments unfold. You see, Bitcoin has been trading within a 15% price range since mid-November when it hovered around $90,000. Historically, 15-20% consolidated price ranges tend to ‘resolve in either direction within 80 – 90 days.’
Now, don’t get too jittery, because Bitcoin’s ‘high correlation’ with macro conditions doesn’t mean it can’t hold its own. Its ability to stay above its pre-US election price of around $70,000, despite turbulence in the crypto market, shows its relative strength. Quite impressive, don’t you think?
And let’s not forget the time when Trump imposed tariffs on Canada, Mexico, and China. That led to the ‘largest liquidation event in crypto history’ on Feb. 3, with over $2.24 billion liquidated from the crypto markets within 24 hours. Bitcoin’s price slipped below the psychological $100,000 level, but analysts aren’t ruling out the possibility of another near-term scare event shaking Bitcoin’s price.
But worry not, dear readers! While Bitcoin’s short-term volatility may continue, its long-term outlook remains positive. So, keep calm and HODL on!
Now, if you’ll excuse me, I hear rumors of the US government’s Bitcoin plans. And where there’s a whiff of government intervention, there’s bound to be some excitement! So, let’s go on this rollercoaster ride together and see where this crypto tale takes us!
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2025-02-06 07:35