According to BlockBeats, on December 5, Nigel Green, CEO of financial services advisory firm deVere Group, expressed his expectations regarding Bitcoin's market behavior following its recent breakthrough of a psychological barrier. Green anticipates a potential short-term sell-off as some investors may choose to lock in profits after the cryptocurrency's rapid rise in value over a brief period. He suggests that this sell-off could be temporary, with Bitcoin's momentum likely to strengthen further, potentially surging to $120,000 as early as the first quarter of next year.
This remarkable performance of Bitcoin coincides with market expectations that the anticipated Trump 2.0 administration will establish a more favorable regulatory framework for cryptocurrencies. Investors are betting on the incoming U.S. president's supportive stance towards digital currencies, which could further bolster Bitcoin's appeal and drive its value higher.
