Bitcoin Bull Run: Can BTC Hit $93,000 Amid Rising Global Interest

BTC/USD

Prediction: Increase

Fundamental Analysis:

Bitcoin surged to $88,887 after Trump’s election win, fueled by optimism surrounding potential changes in US policy.

A Bitcoin advisor within Trump’s team suggested that a nation is actively buying Bitcoin, hinting at significant developments. Trump has pledged to create a national Bitcoin reserve, and Bitcoin could become a strategic reserve asset. This follows a broader trend of countries showing increasing interest in Bitcoin, such as El Salvador and Bhutan.

Technical Analysis: 

Bitcoin has experienced a strong upward trend, with the latest rally pushing prices above $88,000 and increasing its market capitalization to over $1.67 trillion. Although the Relative Strength Index (RSI) indicates overbought conditions, suggesting a slight pullback may occur, Bitcoin is expected to maintain an optimistic outlook. Support levels are at $80,000 and $77,000, with the next potential target at $93,554.

 

 

 

 

 

 

 

 

 

 

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