dailyhodl.com
A top crypto strategist thinks the digital asset market is in a position to witness a bullish continuation even as Bitcoin (BTC) trades below $100,000.
Pseudonymous analyst The Flow Horse tells his 251,400 followers on the social media platform X that he believes the doors are open for Bitcoin and altcoins to spark surges.
“The window of opportunity is between now and the second week of January for things to pop.”
The analyst’s outlook stems from the idea that traders believe the incoming Donald Trump presidential administration will be incredibly bullish for crypto. Trump has signaled that under his administration, the US government’s anti-crypto agenda would end, and he has even suggested a Bitcoin treasury to help get the country’s finances in order.
But the analyst highlights that his predicted window for crypto rallies will close just days before Trump’s inauguration. He argues that traders will likely be in for a rude awakening after Trump takes over the White House on January 20th, 2025
“The market had to some degree priced in a most fairytale scenario – one where the United States establishes a Bitcoin reserve and Lummis’s bill passes smoothly.
However, as reality sets in, that optimistic positioning will likely fade, especially as it becomes clear that Trump will encounter significant resistance in pushing many of his initiatives through.
This is a good thing.”
The analyst also warns that he thinks crypto will print a local top around the time Trump officially begins his second term as US president.
“Like I see no one open to the idea that we are very close (weeks to a quarter) to a nice top.
Just people under the impression that because of Trump the markets have to go up.”
Looking at the macro landscape, The Flow Horse says capital is still expensive compared to the 2020 cycle when the Fed was forced to drop interest rates close to zero due to the Covid-19 pandemic.
“If you believe this cycle will surpass the previous one wildly, you should have a clear thesis explaining how it achieves this without the support of the robust credit markets that helped the prior.”
At time of writing, Bitcoin is trading for $94,455.