So, I came across some news while bitcoin was dipping. They were saying it might drop below $80000, but honestly, it hasn’t gone below $91500 since it fell from its peak of $100000 after hitting an all-time high of $108340. Now, it seems like the buzz is shifting towards bitcoin reaching $120000 in January.
The chatter is that with Trump’s upcoming inauguration and the surge of stable coins moving to exchanges, we might see bitcoin prices rise in January. Looks like people aren’t just transferring stable coins to exchanges for kicks; they’re likely gearing up to buy volatile coins like bitcoin.
What do you all think about this?
Also, feel free to use this thread to speculate about January's bitcoin price.
I think it's possible because when Trump won the election, the price increased from $70K to $90K, so it's also possible to see $100K+$20K = $120K, when Trump is officially become the US president and fire Gary Gensler from SEC's chair.
Most people thinks Trump is completely support Bitcoin, hence if there's a good news about Trump, people always try to correlate it with Bitcoin.
Yes, $120000 in January is possible and that is where my eyes and others are set on. One person who missed collecting profit when bitcoin reached its ATH, has told me that he hopes to collect profit after January 20th because of the belief of a price increase and a new ATH.
That's right. His body language has already shown us his support for bitcoin and he has spoken openly in support of it. So there is definitely a correlation and not just any correlation but a positive one.
As usual we can't know for sure but seeing that many people doubt that Trump will create a strategic reserve, and even that at Polymarket at least until recently gave it only a 35% chance, Trump signing an executive order in the first few days to start buying could push the price up to that level or higher.
Technically when stable coins like USDT are sent to exchange in high volumes, what that indicates is that more capital is being injected into the market to buy various assets and if you see in the cryptocurrency today, bitcoin has the central of attention so if anyone is exchanged stable coin to hold assets a high percentage of that investment will go into bitcoin so for that you are very right, bitcoin is going to surpass most of our speculations in the coming year most especially now that government have it as a reserve investment it will trigger the confidence of a lot of individuals into buying and holding bitcoin.
I have had this believe before now that the inauguration of the incoming USA president Donald Trump by next year is going to be another spectacular event that is going to trigger the price of bitcoin price to sky high. So the bitcoin prediction price rallying around $120k isn't any level that is impossible possible to be actualised.
Addition to other factors that have been predicted to happen in 2025 such as more institutional investors finding their way into the market and BTC ETFs also anticipated to continue to surge, hence, there's so much to be optimistic about in 2025. See link for info https://www.bitget.com/news/detail/12560604449013
With the high anticipation and hype surrounding the forthcoming inauguration of Donald trump bitcoin can get to $120k and above. if bitcoin could get to the recent ATH of $108k just because Donald Trump won election, just imagine what it will do when Trump is sworn into office and make mention of bitcoin in his inaugural speech. There is a very big possibility of bitcoin hitting $120k this January. January is going to be very bullish from the second week. This correction we are might last till the end of first week of January. The stage is gradually heating up for bitcoin to start recording new ATH almost every day.
Some bullish news, Tether moved over 8,400 bitcoins to their reserve, meaning less bitcoins are available for sale on the market:
https://cointelegraph.com/news/tether-moves-780-million-bitcoin-reserve-biggest-since-march
It's important to note that those are not funds held on customers' behalf, but Tether's own reserve and a part of their policy/promise to transfer 15% of the net realised operating profits toward purchasing Bitcoin. It also shows how crazy profitable Tether is (assuming they're not cooking their books etc).
This brings their total bitcoin holdings to 83,759, so almost $8 billion.
Even I am waiting for that moment after Trump is inaugurated, it is likely that there will be a price surge in the market making bitcoin able to rise to $120K although this is not certain but confidence is still there.
As Donald Trump still supports bitcoin so after he becomes President he may soon make promises that were made during the campaign.
About the strategic reserve of bitcoin is still difficult, but at least he still adopts bitcoin bigger there.
I have to agree with you here. Trump is no longer just a supporter, but a promoter of bitcoin indeed. So whatever his actions or decisions that connect into bitcoin, be it positive or negative, it will certainly leave an impact to bitcoin. However, the coming inauguration could be another breakthrough for bitcoin, so we'll expect again for bitcoin price to go into massive hopefully.
I'm very confidence that the appreciation of Bitcoin to $120000 is certain considering the interest of many investors, institution and government organizations to Bitcoin. And the propose suggestion of using Bitcoin as alternate fiscal reserve of some countries is a good news that will enhance the value of Bitcoin in the future if truly actualize.
If Donald Trump will also materialize his propose ambition to adopt Bitcoin into stable exchange in US will be another thing that will possible strengthen the price of Bitcoin to rise above $1200000 before the end of 2025 and seeing that US government have legalize bitcoin to be a national exchange will attract more investors to Bitcoin.
inauguration will definitely have an effect toward BTC, but i'm also worried if people are "selling the news"
regardless even if BTC going down to $80k, doesn't mean we shifted to bearish sentiment, instead it could be that BTC is preparing for another chance of breaking the ATH.
as of now, like as you said, many people speculated that there will be big correction and BTC going down to around the level of $80k, but truth is, everytime it dumped, so many buy order recovers BTC back to $95k, right now it's doing sideways, I will not be surprised if in this january the sentiment instead changed to bullish and we're done with the temporary retracement.
people aren't cashing out for new year anymore.
Theoretically, when we have a president who supports and promotes bitcoin, anyone can easily predict that the price of bitcoin will increase on the day he takes office. But the financial markets are more unpredictable than we think, when the majority of the crowd is bullish, the market going against the crowd is not a new thing. There are many factors that affect the market and manipulation is one of them, so I would not rule out the "sell the news" scenario on Trump's inauguration day. I believe there will be a correction before bitcoin recovers and hits a new ATH in Q1 of this year.
It is possible, even very likely that the price will touch $120k to create a new ATH, but i am more interested in speculation that the price of Bitcoin will correct below $80,000, this is very interesting. Because in Price Action the crucial point of Bitcoin is at the price of $90k $87k $81k, if it manages to breakout it is likely that Bitcoin will chase in the $76k-$73k range.
I want to believe that the growth of Bitcoin will continue, as we have already seen after the election of Trump. Now there will be many predictions from different analysts, forecasts of this or that rise in the price of Bitcoin, and the probability that the growth should be higher than the previous price seems obvious unless some "black swan" occurs in which Trump suddenly changes his interests.
There is excessive speculation about Trump but the real change has happened and the supposed rise has happened so I don't think 1/14 will cause a big difference in the price of Bitcoin. So I think we will be in the $80k to $110k levels and we may see $120k levels in March.
I think people are more curious about the $45 billion in stablecoins being accumulated than the Trump news. If people are buying stablecoins, its a sign theyre preparing for something big. The closest hype we might see could be in January when Trump assumes office, so it makes sense to speculate that Bitcoin could rise. Hitting $120k seems very possible, especially since weve already reached $105k or more, IIRC.
I don't know, why many people are still saying it's the victory of Trump that is making Bitcoin to reach $100,000 this year which I disagree with some people around me, because Bitcoin is a decentralized currency that is not control by the government of U.S which it will never be control by any government in the world. I know anything can happen to Bitcoin price in this new year, but I don't think this bullish season will continue in this month to reach $120,000 in January before the bearish season will begin to take place in the market. If any news is spreading about another bullish season of Bitcoin in this January, I don't think it will going to happen, because bearish season is about to happen to allow plenty of investors to start purchasing Bitcoin and hold for future.
I also have the feelings from my personal speculations that Bitcoin is going to make all time high of $120,000 to $150,000 before the end of the first quarter of the year 2025, let's expect more to come as the bitcoin ETF together with the US presidential election victory with Donald Trump and how the image of bitcoin has been represented globally and amidst the political elites, bitcoin is being under consideration for a reserve currency and once US government made this a success, Bitcoin dominance will remain and there will be more increase in adoption, many other countries can also consider bitcoin as legal tender after El-Salvador and Central Africa Republic, all these will make the bullrun on a more sustained level as part of it's post halving effect on market price.