Originally published on: November 06, 2024
Bitcoin saw an impressive 1,900% surge during Donald Trump’s first term as US president, defying his initial criticism of the cryptocurrency. Despite labeling BTC as “highly volatile” and its value as “based on thin air” in a 2019 tweet, Trump’s second term seems promising for Bitcoin.
With a new record high of around $76,400 following Trump’s recent election win, analysts like Georgii Verbitskii predict Bitcoin’s price to surpass $100,000 in the near future. A 1,900% increase from the current price could potentially push BTC to over $1.5 million per coin, making it a massive $28.5 trillion asset class.
While a $1 million per Bitcoin price target may seem ambitious, prominent figures like Cathie Wood and Henry Arslanian have forecasted such highs by 2030. The entry of major investment banks into the crypto space and the further involvement of institutional players post-Trump’s victory could drive Bitcoin’s price to new heights.
Analysts anticipate significant gains in the Bitcoin market following Trump’s re-election. With projections ranging from $100,000 by 2025 to $250,000 in the next 12 months, the future looks bright for Bitcoin investors. However, it’s crucial for readers to conduct their own research and due diligence before making any investment decisions.
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