As a researcher with over a decade of experience in financial markets and technology, I can confidently say that the current surge in Bitcoin’s price is nothing short of astonishing. Having closely observed the crypto market since its inception, I must admit that the potential for BTC to reach $100K, as predicted by analysts like Ryan Lee and Fadi Aboualfa, seems more plausible than ever before, especially with Trump’s victory.
On Bitstamp, Bitcoin (BTC) reached unprecedented heights, soaring to $76,990, just a day following the announcement of Donald Trump’s win in the U.S. Presidential election, suggesting it is exploring new pricing boundaries.
According to financial experts, this is the anticipated future of Bitcoin, as investors look forward to a potentially favorable cryptocurrency climate during Trump’s administration.
Bitcoin price on track to $100K after Trump’s win
According to Ryan Lee, the chief analyst at Bitget Research, it’s expected that the price of Bitcoin could exceed $100,000 in the wake of Donald Trump’s victory in the 2020 U.S. presidential election.
Lee stated that the rising open interest in futures markets, combined with the growing influence of stablecoins, indicates that traders might be preparing for significant fluctuations in Bitcoin’s price value.
“With the market capitalization of stablecoins hitting a new high and fluctuating around $160 billion, there is room for significant leverage in the market, potentially pushing BTC to reach $100,000 within the next three months.”
In a November 6th report, Copper.co., a digital asset storage company, suggested that Bitcoin’s positive trend could persist into the upcoming year, potentially reaching a value of $100,000.
Related: Bitcoin can go ‘parabolic’ with BTC price weekly close above $71.5K — Analysis
According to Fadi Aboualfa, Head of Research at Copper.co, Trump’s victory sparks increased market confidence and expectations for policy changes that could benefit digital currencies positively.
“A $100,000 Bitcoin is quite possible by the time the 47th US President heads to the Capitol for inauguration on Jan. 20, with ETFs holding approximately 1.1 million Bitcoin.”
The forecast from Copper.co relies on previous trends in the accumulation of Bitcoin ETFs at the spot market, combined with current market information.
“We have back-tested the ETF accumulation trend against potential price ranges.”
Trump’s second term is considered optimistic for the cryptocurrency sector because many industry players anticipate clearer cryptocurrency regulations that support blockchain innovation.
Additionally, Lee pointed out that Trump’s economic policies might sustain inflation rates above 3.5% for an extended period, specifically in the mid-to-long term.
BTC price could hit $200K under Trump’s presidency
In my analysis on November 7th, I noted as a technical analyst that Bitcoin’s price had moved past the crucial accumulation stage within the “descending broadening wedge” pattern. This suggests a possible parabolic rise, potentially heading towards the $200,000 region.
“$BTC has broken out of the reaccumulation ‘Descending Broadening Wedge.’ Ready to parabolically hit the $200k+ zone.”
According to Lagen’s graph, it appears that the period of consolidation, which followed Bitcoin‘s price surge earlier this year, might be coming to an end, since Bitcoin is once again exploring new pricing territories.
Our upcoming aim is approximately set between $90,000 and $100,000, with the long-term ambition to hit $200,000 around May 2025.
Crypto YouTuber Lark Davis also appears bullish for the next 90 days.
Davis predicted that it’s highly probable that we will witness Bitcoin reaching around $100,000 within the next three months, given its recent record highs at approximately $77,000.
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2024-11-08 13:41