Originally published on: November 06, 2024
Bitcoin, the flagship cryptocurrency, skyrocketed by an astonishing 1,900% during Donald Trump’s first term as the President of the United States. Despite Trump’s initial skepticism towards Bitcoin, his second term seems to be signaling a more favorable stance towards the crypto industry. With promises to turn the US into a “Bitcoin superpower” and implement deregulation to support the crypto market, experts are predicting significant price surges ahead.
Since Trump’s reelection, Bitcoin has already hit a new all-time high of $76,400. Analysts like TYMIO Yield founder Georgii Verbitskii are optimistic about BTC price crossing $100,000 in the near future, with projections of Bitcoin reaching a staggering $1.5 million per coin representing a 1,900% increase from current prices.
If Bitcoin were to reach $1 million, it would become a $28.5 trillion asset class, surpassing the market cap of major companies like Nvidia and even gold. While this target may seem ambitious, renowned analysts from both traditional finance and the cryptocurrency sphere have long been predicting a six-figure price for Bitcoin.
Cathie Wood of ARK Invest foresees Bitcoin hitting $1 million by 2030, backed by expectations of major investment banks venturing into the crypto space. Henry Arslanian from Nine Blocks Capital Management believes that Trump’s win will attract more institutional players to the US crypto industry, further driving Bitcoin’s growth.
Analysts like those from 10x Research and independent analysts like Mags are also optimistic about Bitcoin’s future price movements. Projections range from Bitcoin reaching $100,000 by 2025 to potentially hitting $250,000 within the next year, emphasizing the bullish sentiment surrounding the cryptocurrency market post-US elections.
As with any investment, it’s essential for readers to conduct thorough research and exercise caution before making any financial decisions. The future of Bitcoin remains uncertain, but with Trump’s second term potentially fueling a price surge, the cryptocurrency market is poised for significant growth ahead. Subscribe to the Markets Outlook newsletter for more insights on spotting investment opportunities and refining trading strategies.
