Bitcoin surged past $82,000 for the first time last week making new highs, driven by President-elect Donald Trump’s pro-crypto stance and the potential for a Congress with crypto-friendly lawmakers. Trump’s victory, including his clean sweep of battleground states like Arizona, has led to a wave of optimism in the digital asset market. Trump’s campaign promises included making the U.S. a leader in digital assets, creating a Bitcoin stockpile, and appointing crypto-friendly regulators. This has sparked a rally, lifting not only Bitcoin but smaller coins like Dogecoin, boosted by Trump supporter Elon Musk. Trump’s policies are in stark contrast to President Biden’s regulatory crackdown on digital assets, which has dampened the industry under SEC Chair Gary Gensler. The shift in political landscape is expected to lead to more supportive regulation, boosting the crypto market. So, does this mean Bitcoin can enjoy a further rally into year end?

Seasonally, this is a strong period, with average gains of over 13% between November 25th and December 31st over the last 14years. Some of the largest gains have been eye wateringly high with 74% in 2011, 61% in 2017, and over 50% in 2020!  So, will we see strong gains again this year with Trump’s pro-crypto stance? Is this the perfect environment for seasonal gains along with a strong pro-US Gov’t outlook?

Technically, we can see that Bitcoin moves have been significantly higher. Major weekly support (red line) sits all the way back down at $73,000 and daily support is at $89,000 and $77,000 marked below.

Sign up here for thousands more seasonal insights waiting to be revealed!

Trade risks
The main risk is from any unexpected news that counters President Elect Trump’s current positive view on crypto/Bitcoin. Also, seasonal patterns do not work out each year and in 2021, for example, this seasonal pattern returned a pretty hefty fall of 20%.

Don’t Just Trade It – Seasonax It!