According to a recent report by the UK-based research firm Zaye, Bitcoin has experienced a notable retracement from its all-time high reached earlier this week. This correction, however, is deemed potentially short-lived. Naeem Aslam, Chief Investment Officer at Zaye, suggests that this pullback could represent a strategic buying opportunity for discerning investors. With a $100,000 price target in sight, Aslam expresses confidence that Bitcoin could achieve this milestone ahead of the upcoming Inauguration Day of US President Trump.
The anticipation of a more favorable regulatory environment for cryptocurrencies under a Trump administration has contributed to the recent surge in Bitcoin’s value. Market participants are closely monitoring these developments, as a shift towards crypto-friendly policies could significantly impact investor sentiment. As the crypto landscape evolves, investors should remain vigilant and capitalize on potential market fluctuations.