Cryptocurrencies Price Prediction: TORN, Bitcoin & Cryptos – American Wrap 24 January

TornadoCash (TORN) price hit $20 on Friday, having increased by nearly 170% since Trump’s inauguration. TORN price appears poised for more near-term gains as Ethereum’s Vitalik Buterin issued statements calling for the release of the mixer protocol’s co-founders. 

In the outgoing week, Bitcoin updated an all-time high, approaching a price of $110K and dragging the entire crypto market up with it. On Friday morning, capitalisation is moving up again, settling above $3.63 trillion. The market needs time to adjust to the current highs, and so far, there are more signs that this is a pause before further growth rather than the market hitting impenetrable resistance.

Bitcoin (BTC) trades in the green and hovers above $105,000 on Friday after hitting a new all-time high of $109,588 on Monday. CryptoQuant’s weekly report highlights that the demand for BTC from large investors surges as US President Donald Trump takes the Oval Office. Moreover, on Thursday, Trump signed an executive order that includes working toward developing a national digital asset stockpile. However, traders should remain cautious, as the upcoming Trump executive orders could bring volatility to the crypto space.