January 20th: A Game-Changing Date for Bitcoin? As Donald Trump Prepares to Take Office, the Numbers Point to a Bullish Future for Crypto
Another record for Bitcoin. The queen of cryptocurrencies—and the entire crypto market—has reached a new all-time high, touching the threshold of $108,000.
As of this writing, the price is hovering around $107,000, but in the past few hours, it has decisively surpassed this level, stabilizing above quota $107,750.
The primary catalyst behind this latest bullish breakout can be attributed to the recent statement by US President Donald Trump, who unequivocally declared that Bitcoin can represent a real strategic reserve for the United States.
Moreover, Trump emphasized his intent to position the United States as the «number one» player in this expanding market, effectively aiming to prevent other economies—chief among them China—from claiming dominance.
However, beyond the statements of the newly elected President Trump, another significant “why” behind Bitcoin’s latest surge emerged in the last few hours. The announcement of MicroStrategy’s stock entry into the Nasdaq 100 technology index (effective December 23) has provided a more tangible boost to Bitcoin’s performance. This inclusion means that international fund managers holding portfolios benchmarked against the Nasdaq 100 will need to rebalance their positions to include the new stock, thereby indirectly exposing themselves to Bitcoin itself.
Looking ahead, but also considering recent history, it is reasonable to assume that Bitcoin’s price dynamics—and that of the broader crypto market—will remain closely correlated to the statements made by President Donald Trump during his term. This dynamic effectively establishes a President Trump–Market Mover Bitcoin binomial, where market reactions will hinge heavily on his individual declarations.
Amidst the uncertainties surrounding Trump, the critical question remains: where can the leading cryptocurrency go from here? As with any asset that reaches new highs, the methodologies used to project future price targets vary depending on the chosen time horizon and underlying calculation techniques.
Without any prophetic intent, it is worth highlighting the relevance (and value) of the simple mathematical calculation using Pivot Point analysis on a monthly basis (ref. classic formula). Historical data suggests that this method can provide credible price targets for subsequent trading sessions on both a weekly and monthly timeframe.
For the monthly target (based on November data), Bitcoin could see a further potential extension up to $108,566.45.
Following this, the next bullish target emerges around the $120,660 (120,659.40) level, a milestone that—based on current projections—appears achievable within the first month of 2025. This scenario aligns with the broader narrative of the Trump-Bitcoin dynamic, as it coincides with the significant occasion of Trump’s official inauguration on January 20.
Of course, this projection and its accompanying analysis should be viewed as nothing more than an academic exercise. If it proves accurate, it will be a “fortunate coincidence,” much like many others. The ultimate direction will always be determined by market forces—especially in such a volatile asset as Bitcoin and the entire cryptocurrency sector. That said, a new and formidable ally has emerged: President Donald Trump, accompanied by the ever-influential Elon Musk.
Original article published on Money.it Italy 2024-12-17 11:00:47. Original title: Il prezzo del Bitcoin salirà a 120.660 dollari a gennaio 2025
