Today, the cryptocurrency market is experiencing an upswing, coinciding with the positive opening of U.S. stock markets. As the last trading day wraps up, Trump will soon be inaugurated as the new U.S. President. His support for cryptocurrencies and the promise to remove Gensler as SEC Chair bodes well for the crypto landscape.
Bitcoin (BTC)
BTC price is currently hovering above $104,000. Altcoins are also enjoying a favorable day, and there is curiosity about what Trump’s presidency holds for cryptocurrencies. While XRP Coin is expected to benefit the most from this shift, many anticipate that the overall crypto market will see greater gains due to Trump’s influence.
BTC previously reached its peak at $108,353, after which a decline led to challenging weeks for altcoin investors. Currently, it aims for the resistance level of $105,300, and if this is surpassed, it could pave the way for a new peak above $108,353. Following this, psychological targets of $120,000 and $150,000 will come into play, with many predicting a peak near $200,000 for this year.
