The crypto analyst The Flow Horse is bullish on Bitcoin and altcoins. He expects that we will see a rebound for Bitcoin and the rest of the market sometime between now and the second week of January. Why is he bullish on this period?
The Flow Horse is bullish
The simple answer is that Donald Trump is coming.
He promised to create a national Bitcoin reserve for the United States in July 2024, and will likely facilitate more crypto-friendly legislation as well.
The biggest negative for the crypto industry in the United States has been regulatory uncertainty. And for many investors, an investment in Bitcoin will have been difficult for that reason.
After all, a frequently heard criticism of Bitcoin has always been: “But the government is going to ban it anyway.” And then of course every discussion is immediately over. Now that point of criticism seems to be a thing of the past, and that is bullish for the industry.
The market is counting on a fairy tale
The Flow Horse is not really extremely positive either, because he expects the market to be rudely awakened after the inauguration of Donald Trump.
According to him, people are currently counting on some kind of fairy tale. To a scenario in which Trump will really embrace the digital currency and give it a major role within the traditional financial system.
The chance that he actually plans to do so seems small. Also because we heard relatively little about Bitcoin after his election victory.
We cannot rule out that he simply used Bitcoin to gain some votes. He may create a Bitcoin reserve, but it will remain with the ~200,000 BTC that America once confiscated from, among others, the Silk Roak.
In other words: it remains to be seen whether America will buy Bitcoin at all, and the market seems to be secretly counting on that. According to The Flow Horse, this is dangerous for the Bitcoin price.
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Source: https://newsbit.nl/topanalist-dit-is-wanneer-bitcoin-en-altcoins-gaan-stijgen/
