On According to investment company expert Ark Invest David Puell, Bitcoin price is currently in a period of some respite before starting an upward rally.
He stressed that after the new US administration led by newly elected President Donald Trump comes to power, the cryptocurrency market expects a change in policy regarding asset regulation.
According to him, by the beginning of January, the Bitcoin rate will be able to exceed the $104,000 mark, and possibly rise to $124,000. At the moment, it is necessary to closely monitor what exactly the White House monetary policy will be and the position of the US Securities and Exchange Commission (SEC) in relation to the crypto market.
In the medium term, the quotes of the first cryptocurrency may exceed $134,000, but over time the market will still return to the bearish phase, and then the value of the asset may significantly adjust, the expert believes.
If the situation does not change significantly over the next few weeks, the price of Bitcoin will be in the range of $96,000 to $100,000, the analyst concluded.
