Though it's no longer news anymore as each and everyone of us here knows it was the emergent of Donald Trump in the US presidential election, which is strongly giving rise to the Bitcoin market and every other coins follows immediately.
That is not exactly what happened.
In case you've forgotten, bitcoin price was around $38k back in January 2024 and by November it had already risen all the way up to $70k+, then after the US election concluded it went up higher to $90k+ meaning there is already a bigger rise pre US Election.
That was just 2024, the previous year (2023) was even better where price went from $15k all the way to $40k (
160%).
What most people are forgetting these days is that bitcoin has been rising for a long time and even though there are "catalyst" events like the weird Trump hype, the main reason for the long term rise is something else. For example we are currently in the same rise during the old 4-year cycles marked by the 4-year halving where the [new] supply is cut by half.
Part of the recent rise was also the lowering of interest rates in a lot of different countries including USA which first alleviated the recession and secondly let the capital go back to other markets including bitcoin.
Who knows the plans of Donald Trump and Elon Musk after he might have finally sworn in as president.
It's the same. As much as these things can be positive
contributors to the rise, they can be negative contributors are well. But at the end of the day bitcoin rises in the long run because it has a capped supply and an increasing demand.
I don't think it is easy to predict what these guys will do. They have given lots of promises that look good on paper but then they are rich people who think about filling their own pockets not to help Bitcoin. We have to wait and see. For all we know Trump and Musk will create a new centralized shitcoin and try to sell that to people instead of Bitcoin and they may even ban bitcoin Chinese style.
Will there ever be an uncalled dump in the market?
There will be many unexpected crashes on the way toward the peak. Just go back and analyze the entire price chart for 2017 and see how many ups and downs bitcoin had going from below $1000 all the way to $20000 ATH.