Bitcoin Price Could Hit $100,000 If Trump Wins Election: Report
As the United States election approaches, Bitcoin price predictions by experts are getting a lot of attention from the crypto community. In the year On August 25, 2024, a crypto expert posted on X (courtesy Twitter) that if former President Donald Trump wins this election, Bitcoin will easily go to the $100,000 level.
Bitcoin price may reach $100,000 level.
Additionally, Skybridge Capital's Anthony Scaramucci said in an interview, “I think Bitcoin will go up to $100,000. It's taking a lot of time. There were more regulatory hurdles, more uncertainty.
Currently, according to Polymarket, the world's largest prediction market, 51% of Americans believe that Donald Trump will win the election, while only 47% believe that VP Kamala Harris will win. But presidential hopeful Robert F. Kennedy Jr. recently dropped his candidacy and showed his support for Trump.
Trump's Impact on Crypto
This suggests that Americans are inclined to elect a crypto-friendly president this time around. Additionally, the crypto community has praised the recent pledge to remove Terry Gensler as chairman of the Securities and Exchange Commission (SEC).
Based on Trump's behavior towards crypto and blockchain, we will see positive and crypto-friendly policies in favor of the crypto landscape if he wins. In addition, the Fed Chairman's announcement of a potential rate cut also made the sentiment bearish.
Bitcoin price prediction
Bitcoin (BTC) is currently trading at around $64,250 and has experienced a price increase of over 1% in the last 24 hours. Meanwhile, the transaction volume has decreased by 31 percent, which shows that the participation of traders is low.
So far, experts suggest an optimistic outlook for Bitcoin, BTC may reach $68,000 or $71,000 based on price action and technical analysis. However, the $100,000 level is considered less likely.
