A Russian expert has claimed that Bitcoin price growth will continue until January, with BTC advocates continuing to look forward to President-elect Donald Trump’s inauguration.
Speaking to Russia’s Business Gazeta, Leonid Delitsyn, an analyst at the investment firm Finam, said American investors were leading BTC’s charge toward $100,000.
Bitcoin Price Growth Will Continue Until Trump Takes Office, Expert Claims
Delitsyn said that crypto traders now had “expectations” that Trump would “ease regulations in the cryptocurrency market” in January.
“If the rules of buying on expectations also apply this time around, then this growth driver will not run out of steam until January, when Trump takes office.”
Leonid Delitsyn, Analyst, FinamDelitsyn said the latest spurt of price growth is being sparked by the US election and indications that the Republican Party will gain a majority in the House of Representatives.
This will help Trump’s policies avoid “resistance” in the American parliamentary system, Delitsyn added.
According to the expert, BTC price growth usually slows quickly “when all the hopes of crypto investors are realized.”
Dima (surname withheld for privacy reasons) is a crypto investor and resident of the Russian city of Saratov.
He told Cryptonews.com earlier this week that he and his fellow crypto-trading friends felt “positive” about their positions.
On November 12, Dima told Cryptonews.com that his “positivity” was “undiminished” as BTC continued to climb toward the $90,000 mark.
Medium-term Growth on Cards?
Meanwhile, Nikita Stepanov, another Finam analyst told the same media outlet that Trump’s election victory “could have a positive effect on the cryptocurrency market in the medium term.”
Stepanov said that the President-elect was serious about his plans to use crypto to “solve the problem of US national debt.”
Elsewhere, other Russian financial experts urged caution. Moskva24 quoted Lazar Badalov, Associate Professor at the Peoples’ Friendship University of Russia (RUDN)’s Faculty of Economics, as stating that “sharp rises” in BTC prices are “usually followed” by “a serious fall.” He said:
“In my opinion, the current situation is no exception. The period of decline will come. The only question is this: How big will Bitcoin’s new all-time high be? People are also curious to learn about how quickly this will happen. After that, the market will begin to turn around. There is no doubt about that.”
While he admitted that “optimism” was now prevalent in the Bitcoin markets, he warned that “rumors” were driving price growth. The academic explained:
“Currently, a classic situation is developing. People are buying on rumors and will sell on facts. Now investors are simply hoping for a favorable attitude of the new US President towards cryptocurrencies.”
The Peoples’ Friendship University, in Moscow, Russia. (Source: ROMANYEL [CC BY-SA 3.0])However, Badalov suggested that Trump’s victory and his talk of creating a “national reserve” of Bitcoin had changed the crypto narrative. He said:
“In general, Trump has promised the complete opposite of the [crypto] policies that took hold under President Joe Biden. That is why investors are still optimistic.”
The academic also warned Russian investors that transactions with cryptoassets “carry significant risks.”
“Cryptocurrencies are highly volatile. Accordingly, buying them risks incurring very large losses. A situation may arise when an investor buys Bitcoin at a very high price. Then, at the time of sale, it will lose much of its value, since transactions take time.”
Lazar Badalov, Associate Professor, Faculty of Economics, RUDN UniversityThe post Russian Expert: Bitcoin Price Growth Will Continue Until January appeared first on Cryptonews.
