"Bitcoin to hit six figures?!"

The quality of decision-making depends on the information you have and your ability to process it.

• Bridgewater founder: Ray Dalio - ‘Principles’

BTC pressure is constantly increasing and being squeezed. When the price hovers around the psychological resistance level of $100,000, extreme greed appears in the market. This emotion usually signals an impending correction!

At the time of writing this article, the price of BTC has dropped to $97,060 and is likely to fall below 97,000 yuan. However, in a bull market, a price drop of 5% to 15% can be considered a normal and healthy pullback! By the end of 2024, there is a high probability that the price of BTC will have the potential to break through the psychological resistance level of $100,000. If successful, it will be a strong bullish signal, but crossing this psychological price level still faces a high challenge - if BTC reaches $100,000, it will mean a rise of 1,251% in the past five years, a rise of 124% so far this year, and a rise of 47% in the past month.

As shown in this chart, the current rise is strong compared to the same period last year! - Analyzing the differences between the current Bull Market environment and previous Bull Markets helps us stay calm in the market.

Compared to the historical cycles after each Halving in Bitcoin’s history, the trend of BTC in this Halving cycle is clearly lagging behind the performance of the previous three Halving cycles.

With Trump’s election as president, the possible implementation of tax relief policies will affect the demand for national debt. If spending does not decrease accordingly, the fiscal deficit may expand, putting greater pressure on the bond market. Therefore, in a high inflation environment, investors are more inclined to turn to hard assets such as Bitcoin (BTC).

In the stock market, the current Bull Market has only lasted for 25 months, while the historical average Bull Market lasts for 67 months. The data shows that there is still sufficient rise momentum to catch up with the historical trend. Currently, the correlation between BTC and the stock market remains high.

In addition, the American Blockchain Association urges the newly elected US President Trump to take action within the first 100 days of his term to support the encryption industry in the United States - the association’s recommendations mainly include establishing a comprehensive digital asset regulatory framework, ending discriminatory banking practices against Crypto Assets companies, and reappointing the leadership of major federal agencies including the US Securities and Exchange Commission (SEC) and the Treasury Department.

Note: All content represents the author’s personal views only, not investment advice, and should not be construed in any way as tax, accounting, legal, business, financial, or regulatory advice. Before making any investment decisions, you should seek independent legal and financial advice, including advice on tax consequences. Remember to finish reading and click ‘Like’, ‘Watching’, and ‘Add to Favorites’ in the lower right corner, so that each new article push will appear in your subscription list for the first time. #The U.S. House of Representatives passed the BTC bill #BTC breaks 100,000? #BTC achieves the largest monthly increase in history #Who will be the new chairman of the U.S. SEC? #BTC trend prediction