Is Bitcoin about to start a new wave of market movement?
Here, I would like to share some of my views, as history often shows astonishing similarities.
Looking back, the trends of Bitcoin in recent months have many similarities with those in 2023.
In 2023, driven by favorable factors, Bitcoin's price started to soar in October, and subsequently entered a very strong upward consolidation phase, ultimately reaching its peak on January 10 of the following year, coinciding with the launch of the ETF.
Now, looking at the present, the upward trend also began in October, and by late November and early December, it entered an upward consolidation stage. Moreover, the current buying pressure is strong, making it difficult for prices to decline.
Thus, it can be inferred that Bitcoin is very likely to continue to rise significantly, with expectations of reaching around 120,000 to 140,000 in January, which coincidentally aligns with the inauguration dates of Trump and Musk. I believe the probability of such a trend occurring is quite high.
However, in the short term, Bitcoin's price is easily affected by various news.
For example, tomorrow night, the world's largest company by market value — Microsoft will hold a meeting to discuss whether to invest in Bitcoin, and the outcome of this meeting is currently unknown.
If the meeting passes the resolution to invest in Bitcoin, then the price of Bitcoin will likely see an increase of at least 10% or more;
Conversely, if it does not pass, Bitcoin's price may experience a slight correction.
Overall, it is expected that around January 20, we will see Bitcoin rise to the high point of 120,000 to 140,000, and related Dogecoin will also benefit from this.
In the short term, we can look forward to the outcome of Microsoft's meeting next Tuesday evening, hoping everything can develop in a favorable direction.
