Bitcoin Price has recently reached an ATH of $108,364 before plummeting to $92,118 within just 3 days. The sharp price decline coincides with the escalating political instability in the US, as the federal government faces the risk of a shutdown. Despite the recession, many experts remain optimistic that Bitcoin will make an unprecedented impressive recovery with the appearance of a "God candle".
In recent days, the crypto market has been as unpredictable as the US political landscape. The US government shutdown stemming from stalled budget negotiations has created waves of instability that have impacted the market in various ways.
For instance, the S&P 500 has sometimes recorded slight gains during previous shutdown periods. In contrast, Bit and the crypto market have exhibited even more erratic patterns in similar contexts.
Arthur Hayes, the former CEO of BitMEX, has recently stirred up more attention by predicting a "painful sell-off" in the crypto market, occurring near Donald Trump's inauguration. Arthur Hayes believes this is due to the short-term disillusionment among market participants.
The former "Pharma Bro" Martin Shkreli is extremely pessimistic about the future of Bit. Recently, Martin Shkreli predicted that Microstrategy's Michael Saylor may face liquidation and said that BTC could wander aimlessly for a long time, even for years. Martin also warned people not to expect Trump to fulfill his commitments, implying that Trump may not keep his promises. However, many have brushed off Shkreli's assessment with a casual shrug.
These assessments contrast with the optimism of those who believe that Trump's return could trigger another legendary God candle - a term describing a powerful one-day price surge that overshadows all previous market fluctuations. Although Hayes' warnings have shaken the faith of crypto supporters, and Shkreli's statements have been ignored, Trump's supporters still hope for a spectacular comeback.
Whether one supports Trump or not, it is difficult to deny the possibility of Trump's return to the White House, along with crypto-friendly policies and the idea of a strategic US Bitcoin reserve, which could be a catalyst for a strong recovery in the crypto market. Arthur Hayes' forecast of a "painful sell-off" is gradually becoming a reality, with prices expected to rebound when Trump implements such breakthrough measures.
This would go against Arthur Hayes' predictions. The current recession is very likely a temporary correction, a price decline within a long-term growth cycle of Bit. The largest cryptocurrency could make a strong recovery if the US resolves its budget difficulties for 2025 and Trump implements strategies focused on Bit to drive the market.
Such events could trigger a second God candle during or after Trump's inauguration, reshaping market momentum and ushering in an unprecedented growth cycle. However, at present, the price trajectory of Bit remains unclear. Whether Trump's presidency will truly bring the expected boom remains a big question, but the crypto community is closely following every development with great anticipation and excitement.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
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Dinh Dinh
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