Analysis: The community is focused on Bitcoin possibly showing a "God Candle" trend around Trump's inauguration day
According to News.bitcoin, the cryptocurrency market has been as unpredictable as a U.S. government shutdown in recent days. There are reports that the U.S. government is about to shut down due to stalled expenditure negotiations, which historically affects markets in various ways. Arthur Hayes believes that the short-term disillusionment of market participants will lead to a "dismal decline" in the cryptocurrency market around Trump's inauguration day. However, the crypto community is holding its breath for what could be a legendary "God Candle" trend triggered by Trump's presidency (Note: A "God Candle" refers to a significant price increase within one day that overshadows all other activities on the price chart). This suggests that current market downturns are just temporary calmness and bearish phases within larger bull cycles. If America resolves its 2025 budget issue and Trump implements several Bitcoin-focused strategies to stimulate the market, Bitcoin may see a huge recovery.
Of course, Bitcoin's immediate price trend remains unclear at present. Whether or not Trump’s presidency will bring about an anticipated boom in the crypto-market is still uncertain.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Andre Cronje: Sonic is running in "safe mode", 1620 TPS has not yet reached its peak
The number of PENGU token holders has exceeded 500,000