Famous Analyst Evaluated Bitcoin's Current Status After Trump: Where Will BTC Price Go From Now On?

Before the inauguration ceremony of Trump on Monday, Bitcoin (BTC) made a major attack and set a new record by exceeding 109 thousand dollars, and has since exhibited volatile movements.

The fact that Trump did not mention Bitcoin and cryptocurrencies at all in his first speech created disappointment, while some experts warned that this uncertainty had a negative impact on the price.

However, 10X Research claimed in their latest report that the price of BTC could reach $122,000 by February.

Cryptocurrency analysis firm 10x Research founder Markus Thielen stated in his latest report that Bitcoin could rise by 15% from its current price in the coming days, but then enter a consolidation phase.

Thielen used one year of BTC movements for this estimate. At this point, the analyst noted that BTC has followed a pattern of increases ranging from $16,000 to $18,000 since the approval of spot Bitcoin ETFs a year ago.

'If this model in Bitcoin holds, Bitcoin can not only reach $122,000, but also significantly surpass this level before retesting it as support.'

However, another consolidation phase is expected after Bitcoin reached $122,000 in February.

Thielen also noted that after Donald Trump took office on January 20th, BTC recovered and tested the $101,000 resistance level, further strengthening the bullish outlook.

Finally, the analyst also added that the rise in Bitcoin's price chart signals a potential 'low-risk, high-reward entry opportunity'.