Veteran trader: Trump's inauguration may be a key trigger for the crypto market to regain bullish momentum

Veteran cryptocurrency trader The Crypto Dog recently said that the cryptocurrency market may not see significant volatility before President-elect Trump takes office on January 20. He speculated that this political event could be a key trigger for renewed bullish momentum in the cryptocurrency market. He believes that Bitcoin and altcoins may remain stagnant before the inauguration, which is exactly the same as the market behavior in previous election cycles. According to his analysis, historical patterns show that Bitcoin tends to rise after a new US president takes office. In 2021, Bitcoin rose by more than 100% shortly after President Biden took office. Similarly, Bitcoin also saw a major breakthrough around the inauguration in 2017. Despite these observations, The Crypto Dog acknowledged that his predictions could be overturned if the stock market (especially the S&P 500) continues to rise. He emphasized that there has been a strong correlation between Bitcoin and traditional markets since the launch of the Bitcoin ETF, which suggests that continued stock market strength may bring a more optimistic outlook for cryptocurrencies in January.