Bitcoin (BTC) Price May Peak Around Donald Trump Inauguration as New US President, Analyst Predicts

Bitcoin has experienced a significant rally in 2024, and its price has more than doubled since the beginning of the year to approach the psychological

Bitcoin (BTC) has experienced a remarkable rally in 2024, with its price surging by more than 100% since the beginning of the year. This price action has been closely followed by crypto enthusiasts and analysts alike, who are attempting to identify the peak of the BTC price rally. One analyst, known as Tony “The Bull” Severino, has shared his analysis, suggesting that the Donald Trump inauguration might be the time to expect the peak of the BTC price this bull run.

Severino, who is a popular crypto analyst on the social media platform X, recently shared his analysis, which combines technical analysis with cyclical patterns to attempt to identify the peak of the Bitcoin price. In his analysis, which was posted on platform X, Severino highlights a pattern in the BTC price movements that has aligned with the Elliott Wave Theory.

The Elliott Wave Theory is a popular technical analysis framework that identifies recurring price wave patterns, which are said to correspond with the psychology of crowds in the market. Severino observes that the peaks of waves 1 and 3, as well as the troughs of waves 2 and 4 in the current BTC price cycle, have corresponded closely with specific time cycles since late 2023.

According to Severino, this cyclical behavior suggests that the Bitcoin price may reach a significant peak around the time of the Donald Trump inauguration. "Buy the election. Sell the inauguration," Tony remarked.

It is important to note that this analysis is based on technical price movements and does not take into account other factors that could influence the BTC price. For instance, the analysis does not consider the impact of President Trump's policies on the cryptocurrency industry or the broader economy.