According to Nikolai Dudchenko, a Russian financial expert, the price of Bitcoin may surge soon, possibly reaching $120,000. Mr. Nikolai, however, warned that an eventual “correction” mighteto $80,000. Remember, not too long ago, Bitcoin was priced above $108,000 and rapidly plummeted to above $90 000.
As of now, Bitcoin is being traded for around $99,000, after reaching $102,000 last week. The remarks were made by Dudchenko who is an analyst at Finam, during an interview with Business Gazeta.
While Dudchenko accepts recent price fluctuations, including the Bitcoin token dropping below $100,000, he believes there’s always a scope for growth which is key to a substantial rise in Bitcoin’s price.
As an example, he states he is always optimistic towards the price surge and states such a price increase is likely to happen in the macro environment in the future, however if such a correction does happen, he believes the downside potential is tremendous.
Inauguration day for US President elect Donalts Trump is a key factor and predictor of a multitude of events according to the russian analyst, commenting further on the matter, he admits that Bitcoin movement price fluctuation is prone to the slightest comments issued by the US regarding bitcoin rules and regulations, with such volatility and instability out of the way, Dudchenko assures that what seems like a recent promotion of China banning bitcoin for 12 months later seems like a period of stability when the prices held between $90,000-$100,000.
Previously, Bitcoin has been responding positively or negatively based on statements made by important people in the economy such as the US Federal Reserve Chairman Jerome Powell. For instance, in December 2024, the price started declining after Powell expressed his opposition to the proposal of creating a thousands-national Bitcoin reserve.
This, however, may be different should Trump’s presidency come to pass. On January 16, the New York Post stated that Trump is not against the idea of establishing bitcoin and altcoin reserves with currencies such as XRP and Solana. Additionally, his close sources implied that Trump may be looking for a way to invest in these digital assets with the use of a reverse basket.
Regarding the political turbulence, together with the events unfolding ahead, it is reasonable to be uncertain about how to come out prepared for the bitcoin future. In addition, political changes in the Us could severely alter bitcoin’s price metrics in the following months as such changes could greatly influence the price metrics of cryptocurrencies.
The new developments that arise from the emergence and impact of Trump’s presidency, alongside the policies regarding the cryptocurrency have a bearing as to whether bitcoin will succeed in sustaining the bullish movements or it will go through price correction.
