Bitcoin's $84,000 Correction: Is It Over? Trump's Tax Hike, OpenAI's $300 Billion Valuation

Ladies and gentlemen, buckle up! We've got a market that's moving faster than a Tesla on autopilot. Bitcoin just hit $84,000, and the question on everyone's mind is: IS THE CORRECTION OVER? Let's dive in and find out!

First things first, Bitcoin has been on a wild ride. It powered through the $100,000 mark back in December 2024, and its new all-time high (ATH) stands at a staggering $109,079.00. That's a +20.96% increase in the last 12 months! But now, it's trading at $84,271.43, and the market is buzzing with questions.



So, what's driving this correction? Well, the Relative Strength Index (RSI) at 76 points to overbought conditions, and oscillators like Stochastic %K at 88, and Commodity Channel Index at 163 signal potential selling pressure. But don't panic just yet! The MACD at 15,460 confirms bullish momentum, and Moving Averages dominate bullishly. Short-term EMAs and SMAs, like the EMA-10 at 76,932, suggest strong upward trends, with all averages above key support levels (SMA-30 at 45,568). The Hull Moving Average at 100,746 also aligns with this bullish trajectory.

Now, let's talk about the elephant in the room: Donald Trump's proposed tax hike on the ultra-wealthy. This could have significant economic and political implications. Trump's proposal to exclude Social Security payments from taxation could cost $1.2 trillion over 10 years. This move, while potentially beneficial for retirees, could strain the Social Security system, which relies on these taxes to fund benefits. As noted by Brendan Duke, senior director of economic policy at the Center for American Progress, "Without those revenues, the program would be unable to pay full benefits starting in 2033, or two years earlier than currently forecast."

Politically, Trump's stance on taxing the ultra-wealthy aligns with the views of figures like Bill Gates and Bernie Sanders, who have long advocated for higher taxes on the wealthy to address income inequality and fund social programs. For instance, Bill Gates has supported the idea of increasing taxes on the rich to fund initiatives like education and healthcare. Similarly, Bernie Sanders has been a vocal proponent of raising taxes on the wealthy and corporations to reduce income inequality and support social welfare programs.

Trump's proposal to exclude Social Security payments from taxation could also be seen as a move to align with the views of these figures, as it would provide financial relief to retirees, many of whom are part of the middle class. However, the economic implications of this move could be significant, as it would reduce the revenue available to fund Social Security benefits. This could lead to a situation where the program is unable to pay full benefits to retirees, which could have serious consequences for the elderly population.



Now, let's talk about OpenAI. The company just closed a $40 billion funding round, valuing it at a whopping $300 billion! This is a game-changer, folks. OpenAI is at the forefront of AI innovation, and this funding round is a testament to its potential. The company's technology is already being used by some of the world's largest corporations, and its valuation is only going to continue to rise.

So, what does all this mean for you? Well, if you're thinking about investing in Bitcoin, now might be the time to buy. The correction could be over, and the bullish momentum is still strong. But remember, the market is unpredictable, and you need to do your own research before making any investment decisions.

And as for Trump's tax hike, it's a move that could have significant implications for the economy and the political landscape. But it's also a move that aligns with the views of figures like Bill Gates and Bernie Sanders, who have long advocated for higher taxes on the wealthy to address income inequality and fund social programs.

So, stay tuned, folks. The market is moving fast, and there's no telling what's next. But one thing's for sure: Bitcoin is still the king of cryptocurrency, and OpenAI is the future of AI. So, buckle up and get ready for the ride of your life!