Analyst: BTC is expected to maintain range fluctuations, potentially rising to $105,000 in January

ChainCatcher news, according to Cointelegraph, Bitfinex analysts expect Bitcoin to potentially rise to $105,000 in January.

Bitfinex analysts stated, "We expect Bitcoin to maintain a range-bound market trend as investors seek to deploy capital across a variety of asset classes. We predict that by the end of January, Bitcoin will fluctuate between $95,000 and $110,000."

On January 20, the inauguration of President-elect Donald Trump may serve as an important catalyst for cryptocurrency prices. Expectations for the new U.S. government include more favorable cryptocurrency regulatory policies and improved U.S. economic policies.

However, according to Bitfinex analysts, Trump's inauguration may not immediately trigger a price increase for cryptocurrencies. "We expect the new U.S. government to bring more clarity to cryptocurrency policy, but we do not believe the inauguration itself will be a significant price rally event; rather, it will lay the groundwork for a less obstructive path for cryptocurrencies in the U.S."