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Bitcoin Eyes $100K as Donald Trump’s Victory Sparks Pro-Crypto Momentum, ETF Demand Soars

Thu, 14 Nov 2024, 03:14 am UTC

Trump’s victory energizes Bitcoin’s trajectory toward $100K, bolstered by pro-crypto policies and ETF interest. Credit: Gage Skidmore/Flickr(CC BY-SA 4.0)

Bitcoin could soar to $100,000 following Donald Trump’s election victory, as pro-crypto policies and surging demand for Bitcoin ETFs fuel market optimism. Analysts at Copper.co suggest the milestone may be hit by January, signaling a new era for digital assets.

Bitcoin on Track for $100K Following Trump’s Victory

The recent U.S. presidential election, in which former president Donald Trump narrowly defeated his opponent, may set the stage for Bitcoin to hit $100,000, driven by policies that are friendly to crypto.

Bitcoin might reach $100,000 "by the time of the presidential inauguration" on Jan. 20, according to Fadi Aboualfa, head of research at Copper.co, who told Cointelegraph in an interview.

“While the dollar being up has historically not been a great sign for crypto, this clearly isn’t the case currently,” Aboualfa noted. “The clarity of the election outcome has offered a sense of stability in the near-term which looks to be keeping markets happy.”

Institutional Demand Drives Bitcoin’s Price Potential

Institutional demand is on the rise, and the $2.6 billion invested in Bitcoin exchange-traded funds (ETFs) between November 6 and 11 provides credence to the price objective.

According to Copper.co's research, Bitcoin ETFs have the potential to significantly boost the price of the cryptocurrency, which might lead it to the forecasted target by early 2025.

According to Aboualfa's October prediction, "under management by the time of the US elections," exchange-traded funds (ETFs) might hold nearly 1 million bitcoins (BTC), reflecting a huge increase in institutional demand.

Trump’s Policies Offer New Support for Crypto Adoption

This forecast, based on "back-testing the ETF accumulation trend against potential price ranges," gains further support from Trump’s pledges to address "excessive US dollar strength while retaining the dollar's world reserve status."

According to Aboualfa, an "uptick in crypto advocates across various branches of governments" may be on the horizon after Trump's US presidential victory, potentially leading to the government's official endorsement of cryptocurrency and its subsequent innovations.

“I’d expect this to drive greater leniency and a clearer path for launching, listing, or trading tokens,” Aboualfa commented. He also noted that "some elements of crypto regulation" will remain unchanged, particularly for cryptocurrencies exhibiting "the traits of a security," which will be treated accordingly.

Market Outlook and Predictions for Bitcoin’s Long-Term Trajectory

In an interview for the Decentralize with Cointelegraph podcast series, popular crypto trader and investor Van de Poppe shared his predictions for Bitcoin's price trajectory.

According to Poppe, "we are on the verge of the perfect storm," which he believes will extend the current bull market cycle past the previous one, likely culminating "in somewhere 2026."

Debt Crisis Looms Over Bullish Bitcoin Predictions

Poppe warned that rising debt levels could lead to a recall "at some point," triggering a debt crisis reminiscent of 2008.

Though optimistic about the crypto market’s future, Poppe suggested that a $1 million BTC could coincide with this broader debt crisis, causing immediate chaos for asset values in the short term.

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Great article. Requesting a follow-up. Excellent analysis.

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Great article. Requesting a follow-up. Excellent analysis.
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