30s Summary

Keith Alan, co-founder of trading insights platform Material Indicators, predicts a recovery in Bitcoin’s price, potentially surging past previous trends by 2025. He suggests the US Presidential Election will impact Bitcoin’s price activity, potentially causing an immediate jump in value against the dollar, depending on who wins. Alan also notes key marker prices have not remained steady in the run-up to the election. He believes Bitcoin’s price will not rebound until after the elected administration officially takes over. Some predictions estimate Bitcoin’s value may hit $100,000 by early 2025.

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BTC’s price is expected to recover and surge past its previous trends, but we might have to wait until 2025, according to a new analysis. This forecast comes from Keith Alan, co-founder of trading insights platform Material Indicators. Alan suggests that the US Presidential Election will impact Bitcoin’s price activity over the next couple of months.

As we all know, the Bitcoin market is no stranger to sudden, unpredictable swings, especially around events such as the US election. Some folks, like Alan, are already trying to figure out what’s next, beyond who will become the next US President.

According to Alan, how the price of Bitcoin reacts could depend largely on who wins the election. If Trump gets another term, we might see an immediate jump in Bitcoin’s value against the dollar. But if Democrats manage to keep the power, things could just as easily swing the other way.

Alan also made some observations about Bitcoin’s price behavior up until election day. It appears some key marker prices, like the $69,000 mark, which Investors typically lean on, aren’t really holding steady anymore.

Looking forward, issues beyond borders might put a bit of a strain on Bitcoin’s long-term achievements. We might have to wait until the newly elected administration officially takes over to see the market rebound. According to Alan, the day to look out for would be the Inauguration Day, January 20th.

“Regardless of who wins Election2024 , by Q2 2025 Bitcoin will return to it’s trajectory above the macro trend.” Alan predicted.

Bitcoin’s price trajectory could also be used as a backup support, which has certainly been the case in the past. Some predictions have even called for a massive price jump in the not too distant future, with Bitcoin’s value possibly hitting $100,000 by early 2025.

Only last week, Bitcoin’s price came ever so close to beating its all-time high that was recorded in March this year.

Material Indicators warned that if Bitcoin’s price starts plummeting, we could see it drop all the way down to the 50-week moving average or possibly even the macro trend line.

As shown on Cointelegraph Markets Pro and TradingView, the 50-week simple moving average is currently sitting at approximately $59,200.

Remember, investing comes with its risks and it’s always best to do a bit of research before making any moves!