Bitcoin Price Prediction: BTC Surges 5% As Sentiment Soars Ahead Of Trump Inauguration, While Traders Rush To Buy This ICO With Time Running Out
The Bitcoin price surged 5% in the last 24 hours to trade at $103,945 as of 8:54 p.m. EST on trading volume that soared 25% to $69.4 billion. This comes amid optimism in the crypto industry ahead of the upcoming inauguration of the US President-elect Donald Trump on Monday, January 20th. The upward trajectory is largely attributed to the anticipation of crypto-friendly policies under the incoming administration. Bitcoin Price Indicators Suggest A Potential Breakout The BTC price Analysis on the 1-day timeframe exhibits a strong bullish trend. After a prolonged period of sideways consolidation earlier in the year, the Bitcoin price broke out decisively, as indicated by the large green arrow. A critical price pattern visible here is the sideways pattern within the $92,572-$103,913 range around, according to GeckoTerminal data. This area previously acted as resistance during the consolidation phase but turned into a robust support level after the breakout. The current price of Bi...