Crypto Daily – ($BTC) is approaching the next decision point and volatility is high as bulls and bears battle to send the next big move either up or down.
Patience is required
Where Bitcoin goes next is in the lap of the Gods. The inauguration of the new Trump administration in the US is still a month away, and the huge boost that this can bring to the crypto industry is still to come.
Therefore, it may well be that in the intervening time all manner of price manipulation could be brought to bear on Bitcoin.
Back down at around $70,000 is an area where significant leverage could be liquidated, while at $100,000 and above, the same is true. It might not be beyond market makers to liquidate both sets of traders.
All this said, for those with the capacity and the patience to wait it out, there could be a lot more upside to come as nation states are forced to enter the race for Bitcoin given the parlous state of their own fiat currencies.
