A leading crypto strategist believes the digital asset market is poised to see a bullish continuation even if Bitcoin (BTC) trades below $100,000.
Pseudonymous analyst The Flow Horse tells his 251,400 followers on social media platform X that he believes the doors are open for Bitcoin and altcoins to trigger surges.
“The window of opportunity is between now and the second week of January for things to blow over.”
The analyst’s outlook stems from the idea that traders believe the new presidential administration of Donald Trump will be incredibly bullish on crypto. Trump has signaled that under his administration the US government’s anti-crypto program would end, and he has even suggested a Bitcoin hoard to help get the country’s finances in order.
But the analyst points out that the planned window for crypto rallies will close just days before Trump’s inauguration. He says traders are likely in for a rude awakening after Trump arrives at the White House on January 20, 2025.
“The market has to some extent priced in a fairy tale scenario – one in which the United States establishes a Bitcoin reserve and the Lummis bill passes smoothly.
However, as reality sets in, this optimistic positioning will likely fade, especially as it becomes clear that Trump will face significant resistance to moving forward with many of his initiatives.
That’s a good thing.
The analyst also warns that he believes crypto will print a local top as Trump officially begins his second term as US president.
“Like I don’t see anyone open to the idea that we’re very close (weeks to a quarter) to a nice peak.
Just people who feel like the markets must go up because of Trump.”
Looking at the macro landscape, The Flow Horse says capital is still expensive compared to the 2020 cycle, when the Fed was forced to cut interest rates near zero due to the Covid-19 pandemic.
“If you think this cycle will significantly outperform the last one, you should have a clear thesis for how it will get there without the support of the robust credit markets that helped the previous one.”
At the time of writing, Bitcoin is trading at $94,455.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/wangmando/phanurak rubpol
