Not to burst the bubble for you, Powell says Fed cannot hold bitcoin, not seeking to change that. And this negative news really put down the price of Bitcoin in the last two weeks of December after we achieved a new all time high of $108k.
Nevertheless, we are still in the FOMO as far as Donald Trump becoming the next President. We have seen the effect of his statement as we have heard other countries as well considering Bitcoin as their national reserve. And if by chance Trump was able to vetoed the FED to change their stance and hold Bitcoin as a national reserve, it will create a avalanche and countries going to do that as well.
And if that happens, we really don't know what will the top price of Bitcoin in this bull run. Perhaps a conservative of $150k and then as high as $250k is also possible new all time high.
It seems people still don't want to accept the fact that the Fed is the holder of national reserves, not the US government. So Trump wanting to make Bitcoin a national reserve is a huge challenge because he would need to convince the Fed to change its stance, and honestly, I'm not optimistic about that. Because the Fed is outside the control of the US government and no president in history has been able to object to or interfere with the decisions of the Fed. Furthermore, the idea of turning bitcoin into a national reserve is not his top priority, he has more important tasks to do with the United States. I don't think he would spend too much time and effort fighting for that.
. It is high time we change this phrase. 