Bitcoin Analyst Andrey Ignatenko Reacts to the Trending Bitcoin Surge in Price While Adding a New Perspective to the Reason Behind It

Andrey commented on the bull rally sweeping through the crypto market with a focus on Bitcoin while giving his prediction on whether the surge will continue or subside.

Bitcoin author and analyst Andrey Ignatenko has shared his perspective on the recent surge in Bitcoin price, offering a fresh angle on the narrative.

Ignatenko highlighted the bullish trend sweeping through the crypto market, particularly centered around Bitcoin, and shared his prediction on whether the surge will continue or fizzle out.

While acknowledging the influence of Donald Trump's victory at the polls on the bullish run, Ignatenko also brought attention to other factors at play in the surge of the primary crypto asset.

Ignatenko pointed out the increase in trading volumes following the bull run compared to October. He noted that Bitcoin trading volume for half of November is already on par with the volume recorded for the entirety of October.

“Bitcoin’s price rise is connected to Trump. The public heard his loud statements. Despite this, there are trading volumes, albeit not particularly high, but still higher than in October.

For half of November alone, the trading volumes are the same as the entire month of October.

I think that by the end of November, the volume will be 2 times higher than it is now,” said Andrey.

Ignatenko further commented on Bitcoin's price surge, stating that the best of the surge is yet to come. He believes that while Bitcoin could still cross the $100,000 mark before the year ends, the best of the surge will unfold after Trump's inauguration.

Donald Trump will be sworn in on January 20, 2025, marking the commencement of his Pro-crypto administration.

Ignatenko anticipates the impact of Trump's administration on Bitcoin price, expecting the asset to surge to new highs.

Andrey is a crypto analyst and author of a book that utilizes mathematical methodology to predict Bitcoin price up to the year 2050.