Bitcoin has been on a wild ride lately, with its price surging to new heights thanks to a major “Trump pump.” However, traders are warning that this sudden spike may not be sustainable and that there is still a risk of a price retest before the week’s end.

The recent surge in Bitcoin’s price can be attributed to a tweet from former US President Donald Trump, who praised the cryptocurrency and its potential as a currency. This endorsement caused a frenzy among investors, leading to a significant increase in Bitcoin’s value.

But while this sudden surge may seem like a positive sign for Bitcoin, traders are urging caution. They point out that the cryptocurrency’s price has yet to stabilize and that there is still a risk of a price retest. This means that the price could potentially drop back down before finding a stable level.

This caution is especially relevant as the White House prepares to hold a key summit on cryptocurrencies this week. The outcome of this summit could have a significant impact on the future of Bitcoin and other cryptocurrencies, making it a crucial event for traders to watch.

Despite the potential risks, many experts remain optimistic about Bitcoin’s future. They believe that the cryptocurrency’s recent surge is a sign of its growing mainstream acceptance and that it will continue to gain value in the long run.

In conclusion, while Bitcoin’s recent “Trump pump” has caused excitement among investors, it is important to approach the situation with caution. Traders warn of a potential price retest, and the upcoming White House crypto summit adds an element of uncertainty. However, with growing mainstream acceptance and a promising future, Bitcoin remains a top contender in the world of cryptocurrency.