Trump’s victory paved the way for the price of Bitcoin to 100 thousand dollars – Head of Copper Research
The recent US presidential election, which resulted in a decisive victory for former President Donald Trump, could pave the way for Bitcoin to reach $100,000, fueled by pro-crypto laws.
Fadi Aboualfa, head of research at Copper.co, told Cointelegraph in an interview that Bitcoin (BTC) could hit $100,000 “during the presidential inauguration” on January 20.
“While a rising dollar has historically not been a good sign for crypto, this is clearly not the case at the moment. The clarity of the election results has provided a sense of calm in the near term which seems to keep the markets happy.
The proposed price target reflects growing institutional interest, particularly through bitcoin exchange-traded funds (ETFs), which generated $2.6 billion in investments between November 6 and 11.
Related: Bitcoin profit-taking remains ‘below historic highs' amid $90K high
Institutional demand is increasing.
According to Copper.co's analysis, Bitcoin ETFs could play a key role in driving the cryptocurrency's value higher, possibly reaching its predicted goal in early 2025.
Aboualfa predicted in October that the ETF could hold a total of around 1 million BTC – reflecting strong institutional interest – “in the run-up to the US election”.
This forecast is bolstered by Trump's promises to “hold the global reserve level of the dollar to counter excessive US dollar strength” and is “testing back the trend of ETF stocks.”
A chart of back-tested expectations based on historical trends. Source: Copper.co
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Expectations of a change in control after the election
With Trump's victory in the US presidential election, Aboulfa expects a “higher turnover of crypto advocates in the various branches of government,” paving the way to support crypto innovation.
“I expect this will bring more flexibility and a more transparent way to launch, list or trade tokens.”
Copper.co's head of research expects “some elements of crypto regulation” to remain the same – for example, cryptocurrencies with “security features” will “be treated as such,” he said.
Related: New Bitcoin price ‘doesn't seem' always high as traders eyes $70K floor
Will BTC reach $1 million?
Prominent crypto trader and investor Van de Pop shared his thoughts on Bitcoin's price situation in an interview with Cointelegraph's podcast series Decentralized.
Pop said he believes “we're in the middle of a perfect storm,” which he thinks will lead to a longer cycle than the last bull market cycle — “ending somewhere in 2026.”
He warned that investors would not pay too much attention to rising debt levels that would be “remembered for some time” that led to a “debt crisis like we saw in 2008”.
Despite his optimistic outlook for the crypto market, Pop said that $1 million in BTC could come with this massive debt crisis, which would cause all asset prices to collapse in the short term.
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