How High Can Bitcoin Price Go Before Trump’s Inauguration?
Bitcoin is on a price recovery, with Bitstamp hitting a record high of $76,990 days after Donald Trump won the US presidential election.
Many analysts are predicting further Bitcoin (BTC) highs as market participants look forward to a more crypto-friendly business environment under the Trump presidency.
After Trump's victory, the price of Bitcoin will reach 100 thousand dollars
According to Ryan Lee, chief analyst at Biget Research, the price of Bitcoin could break the $100,000 mark following the election victory.
Lee said the high open interest (OI) in futures markets coupled with the stable coin's market dominance suggest that traders are bracing themselves for high volatility in Bitcoin's price.
“With the market capitalization of stablecoins reaching new highs and hovering around $160 billion, there is room for significant gains in the market, which could push BTC to $100,000 in the next three months.”
Source: Cointelegraph
Similar predictions were made on November 6 by digital asset watchdog Copper.co. It has been reported, that Bitcoin's upward trajectory is likely to continue into the new year with a target of $100,000.
Trump's victory reflects heightened market optimism and expectations of a policy shift toward digital assets, said Fadi Abulfa, head of research at Copper.co.
“100,000 Bitcoins Very Possible When 47th US President Heads to Capitol for Inauguration Jan. 20, ETFs Hold Roughly 1.1 Million Bitcoins.”
Copper.co's forecast was based on historical spot Bitcoin ETF accumulation trends and current market data.
“We retested the ETF's accumulation trend against predictable price ranges.”
Spot Bitcoin stock based on historical trends seen in 2024. Source: Copper.co
Trump's second term is seen as bullish for the cryptocurrency space, where many participants expect clear crypto regulations that support blockchain innovation.
Still, Lee said Trump's policies will keep inflation in the world's largest economy above 3.5% “in the medium to long term.”
BTC price could reach $200k under Trump presidency.
In an X November 7 post, technical analyst Geert van Lagen noted that BTC price has risen above a key rally phase of a “descending expansion wedge,” indicating a parabolic move that could lead to the $200,000 zone.
“$BTC has broken out of a restocking ‘descending broad wedge'. We are ready to symbolically hit the $200k+ zone.”
BTC/USD weekly price chart. Source: Gert van Lagen
Lagen's chart shows that the rally phase following Bitcoin's price rally earlier this year appears to be nearing its end as BTC returns to price discovery.
The next projected target is between $90,000 and $100,000, with the ultimate goal of reaching $200,000 around May 2025.
Crypto YouTuber Lark Davis was a bully for the next 90 days.
“We are very likely going to see $100,000 Bitcoin in the next 3 months,” Davis said in response to BTC's new all-time high near $77,000.
This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.
