Originally published on: November 13, 2024
After Donald Trump’s victory in the recent US presidential election, the path seems clear for Bitcoin to soar to $100,000. Fadi Aboualfa, the head of research at Copper.co, believes that supportive pro-crypto regulations under Trump’s administration could fuel this unprecedented surge.
Aboualfa shared with Cointelegraph that Bitcoin could hit the $100,000 mark by the time of the presidential inauguration on January 20. This bold projection is backed by the increasing institutional demand for Bitcoin, particularly through ETFs, which attracted a whopping $2.6 billion in investments between November 6 and 11.
According to Copper.co’s analysis, Bitcoin ETFs are expected to play a significant role in driving the cryptocurrency’s price upwards, with the potential to reach the projected target as early as 2025.
Aboualfa had previously anticipated that ETFs might collectively hold almost 1 million BTC, indicating a substantial inflow of institutional demand by the time of the US elections. This prediction aligns with Trump’s commitment to address the strength of the US dollar while maintaining its world reserve status.
With Trump’s win in the election, Aboualfa anticipates a surge in crypto advocates across government branches, potentially supporting crypto innovation and regulations. He believes that some crypto regulations will remain unchanged, especially for cryptocurrencies with security-like traits.
Renowned crypto trader Van de Poppe also shared insights on Bitcoin’s price trajectory, predicting a longer cycle than the previous bull market cycle, possibly ending around 2026. However, he cautioned investors about rising debt levels, which could lead to a debt crisis affecting all asset prices in the short term.
Despite the challenges, the crypto market shows promise, with Bitcoin potentially reaching $1 million, albeit amidst broader economic uncertainties. Stay updated on more fascinating articles like this by subscribing to the Law Decoded newsletter.
