Eric Trump Flashes Buy Signal On Bitcoin, But Is BTC The Best Crypto to Buy Now?
The post Eric Trump Flashes Buy Signal On Bitcoin, But Is BTC The Best Crypto to Buy Now? appeared on BitcoinEthereumNews.com.
Eric Trump, Donald Trump’s second son, has issued yet another buy signal—this time for Bitcoin. Taking to X, formerly Twitter, he posted, “Feels like a great time to enter BTC”. His post started a Bitcoin price recovery to $99,000 before a pullback to $97,300. Feels like a great time to enter #BTC! @worldlibertyfi — Eric Trump (@EricTrump) February 6, 2025 Just today, Donald Trump’s media company revealed it would launch its own Bitcoin ETF. However, experts are predicting more choppy price action and downside volatility for Bitcoin before the resumption of the bull market. Sidelined investors could likely wait for a better entry point in the coming weeks. What Does Eric Trump’s Support Mean For Bitcoin? Eric Trump’s Bitcoin post reaffirms the Trump family and administration’s support for the cryptocurrency market. He also tagged World Liberty Financial’s X account, suggesting that Donald Trump’s crypto company could be going on a BTC buying spree. The framing of his post also suggests he could have insider information regarding Bitcoin. For instance, Donald Trump recently signed an executive order creating a sovereign wealth fund under the supervision of Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. Eric Trump could have information regarding whether the SWF would invest in Bitcoin, which could potentially send the asset to $200,000. However, Eric Trump’s support for Bitcoin means much less for BTC than it did for Ethereum. Donald Trump and his crypto czar, David Sacks, have already hinted at the creation of a Strategic Bitcoin Reserve, which would be the biggest bullish narrative for the largest crypto asset. Unsurprisingly, the BTC price has dipped to $97,300 after an initial recovery to $99,000. Bitcoin Price Prediction — Sell Or Hold? The Bitcoin bull run isn’t over. However, BTC holders should gear up for more choppy price action…
Filed under: News - @ February 6, 2025 8:18 pm