Bitcoin (BTC), once again baffling investors who believed “this time is different,” slid below $90,000. After testing $98,000, Trump’s political maneuvers regarding Greenland brought turmoil to the crypto market, prompting a decline while pushing gold and silver to new peaks. Yet again, the cryptocurrency seer was proven right, achieving success courtesy of Trump.
The Cryptocurrency Seer Predicted Correctly
Roman Trading had warned during BTC’s test of $98,000 that the price would drop, and shared this prediction publicly. Fast forward to today, Trump’s actions seem to have aligned perfectly with the seer’s predictions, leading to Bitcoin’s inability to sustain its momentum, with the cryptocurrency market experiencing losses exceeding 5% as the day continues.
Ahead of high-level meetings in Davos, Trump’s threats of tariffs against European Union countries and the statement from the White House that acquiring Greenland has always been a long-term goal created turbulence in risk markets. As a result, stocks and the dollar fell, while bonds faced a global crisis.
The analyst known as Roman Trading wrote a few hours ago that the S&P 500 (SPX) could see a decline of 5-10%, which would lead to Bitcoin suffering significantly. According to him, traditional markets rising while Bitcoin barely sustains itself is only a matter of time.
With the stock market beginning the day with losses exceeding 1.5%, and given we are only in the second day of the week, unless the trend reverses suddenly, cryptocurrencies could face tough days ahead. The analyst suggests that as the stock market rally ends and downward momentum accelerates, Bitcoin and other cryptocurrencies could face devastation.
Bitcoin (BTC)
As this article is being prepared, the leading cryptocurrency is moving towards $86,688; losing this level likely means a further drop to a target of $84,687. The sales from the bullish flag resistance led to further loss in support, creating a bleak picture. Although Trump’s actions could potentially benefit cryptocurrencies, issues like tariff conflicts and geopolitical tensions with Iran and other countries remain unresolved. Additionally, his economic disputes with European allies for not handing Greenland over to the U.S. escalate the situation.
The current conditions indicate a potential continuation of the downturn in cryptocurrencies. With strong employment data, interest rate cuts seem unlikely this month. Tomorrow, in what seems like a response to Trump, Powell will testify at the Supreme Court to oppose the removal of Fed member Cook. Meanwhile, the Supreme Court’s tariff decision is expected to be announced around February 20.
