Bitcoin (BTC) and the New Political Era: Opportunities and Risks
Bitcoin (BTC) has reached a historical peak with its all-time high (ATH) of $75,407, which it reached recently. Behind this rise lies the victory of Republican candidate Donald Trump in the US presidential elections. Trump made history as the 47th president of the USA by reaching 270 delegates. This victory of Trump, known for his support for Bitcoin, had a significant impact on the cryptocurrency market. However, there are various views on what this situation will mean in the long term.
Events Effective in the Rise of Bitcoin
Trump’s victory not only increased the price of Bitcoin but also led to many altcoins gaining value. For example, Dogecoin (DOGE) increased by 18 percent with Elon Musk joining the new government. Additionally, platforms such as Uniswap also attracted the attention of investors and recorded an increase of 27.7 percent. Such sudden price movements once again revealed how dynamic and unpredictable the cryptocurrency market is.
Analysts’ Expectations and Possible Scenarios
Crypto analysts evaluated the scenarios that may occur in Bitcoin after Trump’s victory. Checkonchain’s founder, Checkmate, predicts that the main trend lines of the bull market are still functional and the rises will continue. According to Cointelegraph, it is emphasized that some critical levels need to be paid attention to in order for Bitcoin to continue its current upward trend. In this context, the 200-day simple moving average (SMA) and the short-term holders’ cost base (STH-CB) stand out as important indicators.
- 200-Day SMA: It is at $63 thousand 546.
- STH-CB: It points to the level of 64 thousand 337 dollars.
According to analysts, if Bitcoin cannot maintain $70,000, it will be inevitable for these support points to be tested. According to Coinglass’s data, with BTC breaking a record, sell orders have accumulated at $75,500, while buyer orders are concentrated at $73,000. Additionally, there are large amounts of buy orders at $70,000, which is seen as the psychological support point.
Possible Price Movements and Investor Strategies
Crypto analyst Lucky Chart Ape, in an analysis he made on the social media platform X, stated that BTC could realize the “first rise, then decline” scenario after the elections. According to this scenario, BTC price will retreat to $65 thousand. However, if the leading cryptocurrency can maintain $65,000, it has the potential to rise again to $74,000. Such dynamics require investors to reconsider their strategies.
Conclusion and Recommendations
The future of Bitcoin is shaped depending on both political developments and market dynamics. It is critical for investors to act carefully and consciously, being aware of such uncertainties. Pursuing a long-term strategy can offer a more resilient approach to market fluctuations. When investing in crypto currencies, taking into account market trends and technical analysis will help investors minimize their risks.
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