The overall mood in the cryptocurrency market was actually better. Most investors may have perceived the new year’s rally differently. After all, everyone has heard that the cryptocurrency market has a great future under Donald Trump. Now Trump is about to take office, and the price tag is in free fall. Does this mean that the 2025 high has been canceled and the end of the uptrend has already been reached, or could things start looking up again for Bitcoin soon?
Under the $90,000 mark
Bitcoin price has been moving sideways in a wide range for several months. The $90,000 mark forms the bottom of this sideways range, while the rally usually ends at $102,000. There was one exception with the breakout to the all-time high of $108,000. Now the world’s largest cryptocurrency is moving towards the lower end of this range again.
(Bitcoin price development – Source: Tradingview)
Today it briefly fell below the $90,000 level. But this once again confirmed that the support at this point is very strong, as the price rose again to $93,000 a few minutes later. Many investors took advantage of the opportunity to make cheap purchases. However, the possibility of this value falling permanently increases with each new test of the $90,000 mark.
Parallel to 2021
Many analysts use past data to identify future price trends. The price of Bitcoin has actually risen very sharply in 2021 after the price of Bitcoin halved the previous year. Today, four years later, there has also been a halving in the past year and the price is expected to continue rising. However, there is currently a correction. It wasn’t any different back then either.
(Bitcoin Monthly Profit and Loss – Source: Bitcoin monthly return)
In 2021, the price of Bitcoin increased significantly in the first days of the new year compared to this year. There was also a later correction at that time. However, the price of Bitcoin rose more than 13% in January 2021. The chances that things will improve again this time, as they have after every half year so far, are good.
The next few days are crucial
In order to break out of the sideways movement witnessed in the past few months, more momentum is needed. US inflation data can already provide this. The US Producer Price Index will be published on Tuesday, January 14, and the Consumer Price Index the following day.
If inflation turns out to be lower than expected, the price of Bitcoin could rise again towards $100,000; If inflation picks up, it could also fall below $90,000. Therefore, investors should closely monitor the data release in the coming days. On the other hand, the mood is much better for the new Wall Street Pepe ($WEPE).
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Wall Street Baby is on track for $50 million
While things will still be exciting for Bitcoin in the next few days, the mood for Wall Street’s new pep couldn’t be better. The meme coin is currently still available for pre-sale and is already heading towards the $50 million mark. The new currency has already exceeded all expectations. The last time there was such a successful ICO was Pepe Unchained (PEPU), which later exploded to over $600 million. Analysts now expect a similar development in $WEPE prices.
($WEPE Initial Coin Offering – Quelle: Wall Street Baby website)
During the pre-sale period, investors have the advantage of the dollar price of WEPE increasing several times. Since the starting price on cryptocurrency exchanges is higher than the current pre-sale price, this actually results in an initial book profit for the first buyers. However, the very high demand during the pre-sale phase suggests that things could continue to improve significantly after that.
Get it now in time and buy $WEPE in pre-sale.
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