After Donald Trump's re-election and the FED decision, the cryptocurrency market is back in full swing.
At this point, while Bitcoin and altcoins reach peaks not seen in months, BTC continues to break new records.
So, Will the Market Rise Continue?
At this point, analysts noted that the rally could continue until January, but a moderate correction is expected in the first quarter.
Speaking to Decrypt, multiple analysts said the overall crypto rally is expected to continue at least until January.
First, Real Vision chief analyst Jamie Coutts stated that significant growth and rise is expected in the cryptocurrency market in the next nine to 12 months.
“We are currently in a very seasonal sweet spot for crypto, with the ongoing post-election rally expected to extend into January. Timing of investment is key — the crypto market is set for significant growth over the next nine to 12 months,” Coutts said.
Jehan Chu, co-founder of Hong Kong-based cryptocurrency investment firm Kenetic Capital, said the rally could continue until January, when US President-elect Donald Trump takes office.
However, the analyst said that geopolitical risks in the Middle East and Eastern Europe and rising US debt could negatively affect the market and that he expects a moderate correction in the first quarter of next year. He added that the rally would resume after this correction.
Finally, Ryan McMillin, chief investment officer of crypto fund manager Merkle Tree Capital, stated that the rally is just beginning and that he expects Bitcoin to reach $100,000 by the end of the year.
“We believe this rally is just beginning. We have reached a new record high every day since election uncertainty lifted last week, and for good reason.
“I think we could get to $100,000 by the end of the year, and we expect continued record ETF inflows, FTX cash distributions returning directly to the market, and a friendly or at least neutral Securities and Exchange Commission.”
Bitcoin continues to trade at $80,900 at the time of writing.
*This is not investment advice.