Bitcoin is correcting and holding above $89k but how strong this correction will be will depend on what caused it. If it is just a healthy correction after a series of growth days, there is nothing to worry about, but if it is affected by macro news, things will become more serious.
News of the war in the Middle East seems to have died down since Trump won the election, but there have been recent reports that Biden is allowing Ukraine to attack deep into Russian territory. I think we should not take this news lightly, if it happens, we will have a more serious dumping than we think.
I used to think that bitcoin would be able to grow until Trump officially took office, but I started to worry that bitcoin would be affected as the political war between the two administrations in the United States increased. I was very optimistic about bitcoin hitting $100k this month but now I'm a little worried.
I am not really shocked about it and we could think about how this could be changing on the long run and Trump vs Biden would not be really a big deal at the moment. I can consider this to be a great situation on the final end, whenever this ends and Biden gives up power and Trump takes over, we are going to end up with a good return and we could make some money from it without a doubt.
Obviously we should not be considering how this month goes, sure maybe this month goes very well or maybe this month doesn't go as hoped for and we can't reach 100k, that would not be a simple thing at all.
I believe the best case scenario would be that we are going to end up with a trouble on the long run. Surely people will forget about all of this soon enough, and we will end up with a troubled return on the long run. Obviously things aren't always simple to wait, because we got hyped already and we want to see more, but if we could wait a bit more, we can do better.