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Notcoin The cryptocurrency market is buzzing as Bitcoin reached an all-time high record of $75,407 on election night, driven by optimism around Donald Trump’s second term. With Trump’s promise to establish Bitcoin as a strategic asset for the U.S. and to push for crypto-friendly policies, BTC investors are looking forward to a potentially historic rally.
Bitcoin Rallies Amid Trump’s Crypto-Friendly Agenda
Trump’s election victory has sparked euphoria in the crypto community, as he outlined bold plans to support Bitcoin and the broader cryptocurrency industry. Among his pledges, Trump aims to establish Bitcoin as part of a national strategic stockpile and to remove regulatory barriers, including a plan to fire the current SEC Chairman. With these promises, BTC broke through previous resistance, pushing past $75K for the first time.
Economists Urge Caution on Bitcoin’s Rapid Rise
However, some experts, like economist Henrik Zeberg, offer a word of caution. Zeberg warns that Trump’s proposed economic policies, which include tax restructuring and imposing tariffs to stimulate U.S. economic growth, could lead to recessionary conditions. If these policies echo past protectionist measures like the Smoot-Hawley Tariff Act of 1930, they may end up reinforcing a market downturn.
Drawing on historical data, Zeberg suggests that the current crypto rally might culminate in a “blow-off top,” where Bitcoin high record experiences a rapid surge before a steep correction. Based on Fibonacci extension analysis, he projects a BTC target range of $115,000 to $123,000, marking a potentially short-lived peak.
Key Levels to Watch for Bitcoin’s Trajectory
Fibonacci analysis identifies critical levels where Bitcoin high record may encounter resistance, beginning with $77,437.88. Should BTC maintain its upward momentum, subsequent targets include $85,205.47 and $107,435.71, with the ultimate “blow-off top” potentially occurring between $115K and $123K.
What’s Next for Bitcoin Investors?
As Bitcoin heads into uncharted territory, CriptoBeast investors should keep a close eye on these Fibonacci levels and the broader economic environment. A rally to $115K could open up opportunities for returns, but awareness of the possible pullback remains crucial.
CriptoBeast will continue to monitor this unprecedented market movement and provide insights as Bitcoin’s future unfolds. Whether BTC sustains its current momentum or hits a blow-off top, we’re here to help you navigate the crypto market and invest with confidence.