Bitcoin hits another fresh record high
Bitcoin trades higher at $86,976 (+7.88%) after hitting another fresh record high of $88,480 earlier this morning.
Looking at what comes next - after BTC struck a high just below $74,000 in mid-March, it then spent the next seven months winding up as tight as a spring.
The election of the “pro crypto” Donald Trump last week was the trigger for the spring to uncoil and with the force of momentum behind it - a move into the low $90’s appears likely.
We would also expect to see some rotation into coins like ETH which is trading about 17% below its YTD high.
Looking at what comes next - after BTC struck a high just below $74,000 in mid-March, it then spent the next seven months winding up as tight as a spring.
The election of the “pro crypto” Donald Trump last week was the trigger for the spring to uncoil and with the force of momentum behind it - a move into the low $90’s appears likely.
We would also expect to see some rotation into coins like ETH which is trading about 17% below its YTD high.
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