The post Bitcoin (BTC) ready for lift off as Trump inauguration looms appeared on BitcoinEthereumNews.com.

Only three days away, the inauguration of Donald Trump as the next president of the United States is likely to have huge consequences for Bitcoin and the rest of the cryptocurrency industry. The Bitcoin price has already started to rally. How high can it go? Bitcoin then Monday will see the inauguration of President Trump and the potential for a new era pro-crypto policy. It does not seem long ago that the anti-crypto Biden administration, together with a harsh Securities and Exchange Commission (SEC) led by Chairman Gary Gensler, were trying to stifle the life out of this new and innovative industry. Could it have been that it was the banking lobby that used all its influence to have its one and only competitor taken out of the picture? Or was it just that the government feared such a dynamic and disruptive force in the monetary system? Bitcoin now This is all in the past now. President Trump looks to have recognised that Bitcoin could be what starts to have a positive effect on the impossible pile of debt that confronts his country. It’s for this reason that a potential Bitcoin Strategic Reserve could be signed into effect by Trump when he takes office. Although this is still far from certain, Trump’s appointments of pro-crypto members of his new administration in key positions is likely to lead to unimaginable tailwinds for Bitcoin and the crypto industry in general. According to Polymarket, the odds of Trump signing a cryptocurrency executive order on day 1 are 52%, and the establishment of a US national Bitcoin reserve in 2025 is at 60%. Bitcoin breaking out – back to all-time high? Source: TradingView The 8-hour chart for $BTC shows a breakout of the descending trendline. $102,000 is the last decent resistance. Therefore, if the…

---

Filed under: News - @ January 19, 2025 12:21 am