Based on its correlation with the liquidity index, Bitcoin may reach a local peak of above $110,000 by January.
Bitcoin surpassed $100,000 for the first time in history on Dec. 5, boosting expectations of a $110,000 “local top” before United States President-elect Donald Trump takes office on Jan. 20.
Risk appetite is also returning among altcoin investors after Tron (TRX) surpassed a record $20 billion market capitalization, bolstering expectations of a forthcoming altcoin season, as some of the profits from Bitcoin (BTC) investors are expected to flow into smaller cryptocurrencies.
Bitcoin has entered the “parabolic phase” of the market cycle, as analysts point at a local top of above $110,000 before the end of January.
