{"id":2819,"date":"2024-11-17T04:01:40","date_gmt":"2024-11-17T04:01:40","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2819"},"modified":"2024-11-17T04:01:40","modified_gmt":"2024-11-17T04:01:40","slug":"bitcoin-at-120k-trading-firm-links-trumps-reserve-plan-to-bold-prediction","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2819","title":{"rendered":"Bitcoin At $120K? Trading Firm Links Trump\u2019s Reserve Plan To Bold Prediction"},"content":{"rendered":"
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Many analysts aren\u2019t surprised by the recent price surge of Bitcoin<\/a> to $80,000, given Donald Trump\u2019s convincing victory in the recently concluded US national elections.<\/p>\n

Some market analysts and observers offer even bolder projections, fueled by rumors of a Bitcoin strategic reserve and the possible approval of the Bitcoin Law.<\/a><\/p>\n

Trading firm QCP is one of those analysts taking a bullish stance on the crypto, predicting that the top digital asset will break $120,000 soon.<\/p>\n

QCP cites the administration of incoming President Donald Trump, the plan to create a strategic BTC reserve<\/a>, and updated US inflation data as critical drivers for the asset\u2019s price.<\/p>\n

Favorable Market Conditions Boost Bitcoin Price<\/strong><\/h2>\n

Bitcoin\u2019s price surge continues this week, hitting another all-time high of $93,120, boosting the global cryptocurrency market cap to over $3 trillion.<\/p>\n

The rally comes as the US government released its inflation data, with headline and core inflation numbers at 2.60% and 3.30%, respectively, in line with expectations.<\/p>\n

Also, analysts are confident of a potential 25 basis point rate cut from the December Federal Open Market Committee meeting. Many say that a shift in monetary policy boosts optimism among risk-based assets, including Bitcoin.<\/p>\n

<\/p>\n

$100k To $120k For BTC Possible, Says QCP<\/strong><\/h2>\n

In the Twitter\/X post, QCP Trading predicts that Bitcoin can hit $100k to $120k. The post added that BTC price action benefits from proposals to create a BTC strategic reserve and the government\u2019s potential shift from gold to digital asset.<\/p>\n

\n

QCP: In view of Bitcoin\u2019s impressive rally since the US election, our view is that $100,000 \u2013 $120,000 may not be too far off. Trump idea of launching a strategic BTC reserve and rotation from Gold to BTC, provides a strong narrative that keeps BTC prices supported.\u2026<\/p>\n

\u2014 Wu Blockchain (@WuBlockchain) November 15, 2024<\/a><\/p>\n<\/blockquote>\n

However, QCP cautions the industry about excessive leverage in altcoins. It added that perpetual funding rates have increased between 50% and 100%, primarily due to heavy-leveraged buying.
\nThis scenario increases the risk of a deleveraging event, putting downward pressure on prices.<\/p>\n

Other Analysts See Continuous BTC Price Surge<\/strong><\/p>\n

Aside from QCP, several other analysts and financial institutions are examining Bitcoin\u2019s bullish trend. Matthew Sigel of VanEck<\/a> is also optimistic about the direction of digital asset prices.<\/p>\n

Bitcoin\u2019s price has increased by 30% since the elections, and based on VanEck\u2019s proprietary indicators, the trend is likely to continue.<\/p>\n

Sigel also noted the market\u2019s favorable sentiment on Bitcoin, thanks to the re-election of Trump and other crypto-friendly personalities. Based on VanEck\u2019s projections, the alpha coin can top $180k by next year.<\/p>\n

Rekt Capital echoes VanEck\u2019s outlook, suggesting that the asset has entered a \u201cparabolic upside.\u201d The market analyst further stated that this stage can last up to 385 days, creating plenty of opportunities for traders and investors to profit.<\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Many analysts aren\u2019t surprised by the recent price surge of Bitcoin to $80,000, given Donald Trump\u2019s convincing victory in the recently concluded US national elections. Some market analysts and observers offer even bolder projections, fueled by rumors of a Bitcoin strategic reserve and the possible approval of the Bitcoin Law. Trading firm QCP is one […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-2819","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2819"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2819\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}