Jakarta, Indonesia Sentinel — Bitcoin (BTC) surged to its strongest value in USD on Friday, January 17, 2025, setting a new record against the British pound as well. The cryptocurrency’s upward momentum comes as markets anticipate the inauguration of U.S. President-elect Donald Trump, signaling a new era for the United States with a more crypto-friendly government.
The most significant upcoming catalyst is Trump’s inauguration ceremony on Monday, January 20, 2025. Crypto investors are optimistic about substantial policy changes under his administration, as Trump has pledged to position the U.S. as a global leader in cryptocurrency. Among his promises is the creation of a national Bitcoin reserve—an ambitious contrast to the regulatory crackdowns of prior years.
Pro-Crypto Policies Under Trump’s Administration
According to Coindesk, Trump plans to prioritize digital assets by forming an advisory council comprising industry leaders to shape crypto-related policies. The market’s enthusiasm has also been bolstered by predictions on platforms like Polymarket, which now give a 38% probability that Trump will initiate a national Bitcoin reserve within the first 100 days of his presidency.
Chief Investment Officer of crypto lending platform Ledn noted:
“As Biden’s presidency concludes, Bitcoin’s technical outlook remains bullish. The only potential major correction might come if Trump fails to deliver on his promises to ease regulations or establish a Bitcoin treasury.”
Market Analysis and Future Outlook
Glover, a prominent market analyst, predicts Bitcoin could reach $128,000 within months, citing Elliott Wave Theory. This model indicates market trends unfold in five waves, with three representing the primary trend and two retracements.
“Breaking above the $108,000 all-time high is critical. Although a retrace to recent lows of $90,000 is still possible, it’s increasingly unlikely,” Glover explained.
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Caution Amid Optimism
While market optimism runs high, investors are cautioned to remain vigilant. A shift in Trump’s stance or failure to execute pro-crypto policies could trigger significant market corrections.
Conclusion
Bitcoin’s latest rally underscores investor confidence in a more favorable regulatory environment under Trump’s leadership. With promises to support crypto innovation and establish a national Bitcoin reserve, the stakes are high for the U.S. to take a leading role in the global digital economy. However, as always, investing in crypto carries risks, and thorough research is advised.
Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Indonesia Sentinel is not responsible for profits and losses arising from investment decisions.
(Becky)
