Currencies Bitcoin gains further at the start of the year
Bitcoin remains on a stabilization course. On the Bitstamp trading platform, the oldest and best-known cryptocurrency rose to around 96,500 US dollars by midday on Thursday.
02.01.2025, 15:38
02.01.2025, 15:39
SDA
On Monday, Bitcoin had initially halted its slide after reaching a record high in mid-December at around USD 91,300. Since then, the cryptocurrency has recovered somewhat.
"The start to 2025 has been successful," wrote analyst Timo Emden from Emden Research. Many investors are now likely to seize one of the last opportunities to get into Bitcoin before US President-elect Donald Trump moves into the White House on January 20.
Waiting for Trump
According to Emden, a few weeks before the inauguration, the fantasy that the regulatory belt in the world's largest economy will be significantly loosened remains alive. Investors are also betting on the rapid introduction of strategic Bitcoin reserves. According to the expert, however, it remains to be seen how high Bitcoin and co. will actually rank on the list of priorities in the first few days of Trump's term of office.
From a market perspective, the outlook for Bitcoin is gloomy after it peaked at USD 108,364 on December 17 and came under heavy pressure shortly afterwards. Investors with an interest in charts will recognize a trend reversal in the price of the cryptocurrency, which is a warning to be cautious. If Bitcoin falls below the level of around 90,700 dollars, the downward pressure could intensify.
The next support for Bitcoin from a technical perspective would then be the region around USD 82,600. This is currently the 100-day moving average, which describes the medium-term trend.
