Bitcoin has broken the $79,000 price level for the first time and many traders are sharing the sentiment that “this is just the beginning.”
Bitcoin Analysis news
Spot Bitcoin ETF recorded a new all-time high of over $1.37 billion in net inflows a day after Trump’s victory.
Several Bitcoin price analysts see BTC trading between $100,000 and $200,000 just before and after Trump’s inauguration.
Bitcoin could top $1 million per coin during Trump’s second term, according to historical price data.
Analysts say Bitcoin is ready to test new highs after the US elections conclude, but $70,000 needs to hold as support first.
The latest market analysis suggests that if Bitcoin’s MVRV ratio continues to increase, BTC price could be in the six-figure range by 2025.
Other key indicators suggest that Bitcoin’s long-term floor price is above $40,000.
After notching a three-month high last week, Bitcoin volatility has flattened out as traders await the outcome of the US election with bated breath.
Bitcoin struggles to reclaim $70,000 ahead of the US election, but analysts agree that volatility will be present before and after the election result is announced.
Some Bitcoin analysts see the BTC price heading above $80,000 immediately if Donald Trump beats Kamala Harris.