Originally published on: November 13, 2024
With the recent US presidential election resulting in a win for former president Donald Trump, the path to a $100,000 Bitcoin price seems clearer than ever. Fadi Aboualfa, the head of research at Copper.co, shared in an interview with Cointelegraph that he believes Bitcoin could hit the $100,000 mark by the time of the presidential inauguration on Jan. 20.
This bullish projection is fueled by the increasing institutional demand for Bitcoin, especially through the surge in Bitcoin exchange-traded funds (ETFs), which attracted $2.6 billion in investments between Nov. 6 and 11.
Copper.co’s analysis indicates that Bitcoin ETFs could play a critical role in driving the cryptocurrency’s price up, potentially reaching the projected target by early 2025. Aboualfa’s earlier prediction in October suggested that ETFs could collectively hold close to 1 million BTC by the time of the US elections, reflecting a significant rise in institutional demand.
The support for Trump in the US elections has also raised hopes for a favorable environment for crypto regulation and innovation. Aboualfa anticipates an increase in crypto advocates in various branches of governments, which could pave the way for further support for crypto technologies.
Popular crypto trader and investor Van de Poppe also shared his insights on Bitcoin’s price trajectory, believing that we are on the brink of a perfect storm that could extend the current bull market cycle until 2026. However, he warned of rising debt levels that could lead to a debt crisis, potentially impacting asset prices in the short term.
Despite the uncertainties in the broader economic landscape, the optimism surrounding Bitcoin’s price potential remains strong, with the road to $100,000 looking more promising than ever. Subscribe to Law Decoded newsletter for the latest updates on crypto laws and guidelines to make informed decisions for your crypto ventures.
