Bitget Research chief analyst Ryan Lee shared his forecast for Bitcoin
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Johny Smith
2024/11/30
3 mins read
Recently, the main digital coin surpassed the $93,000 level. So far, it has not been able to gain a foothold above it. However, Bitcoin is still showing signs of strength. Bitget Research chief analyst Ryan Lee told the editors of Crypto.ru about the reasons for the bullrun in the crypto market, and also shared medium-term forecasts.
According to the expert, one of the key drivers of growth was the stable influx of funds into spot funds. That said, the reasons for large BTC purchases by traditional funds deserve special attention. At the moment, there is a prospect that the flagship of the crypto market will become an important part of the US strategic financial reserve. President-elect Donald Trump promised this during the election campaign.
If such a scenario is realized, then other countries will take similar actions. This will greatly increase the inflow of funds into spot Bitcoin ETFwhich will have a positive effect on the market dynamics of the coin. Another reason for the growth is the expected improvement in liquidity.
Trump has consolidated control of Congress and, with the support of Elon Musk, could influence the Federal Reserve’s monetary policy. This suggests that the future president is able to influence both monetary and fiscal policy.
An additional factor is the expected improvement in crypto policy. In the US, legislation related to cryptocurrencies may be introduced next year, which will have a positive impact on this segment. The forecast price range for the next month is approximately from $82,000 to $110 thousand. As for the medium-term dynamics, within six months the quotes will be between the levels of $73,000 to $150 thousand. If we talk about key indicators, then it is worth paying attention to the financing rate and the liquidation map .
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