Trump Or Harris? Bitcoin To Reach $100,000 No Matter Who Wins

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As a seasoned analyst with over two decades of experience in the financial markets, I have seen my fair share of predictions and market swings. However, when it comes to Bitcoin, I must admit that its resilience and unpredictability never cease to amaze me.

Investors in cryptocurrency are optimistic that the upcoming U.S. presidential election between Donald Trump and Kamala Harris will not prevent Bitcoin from reaching $100,000. The value of crypto has become a significant topic leading up to the elections, with many predictions being made based on the election’s outcome. However, it’s worth noting that historically, Bitcoin has shown little regard for who wins in November’s polls.

Bitcoin To Reach $100,000 Whether Trump Or Harris Wins

According to a CNBC report, investors in cryptocurrency are confident that Bitcoin will reach $100,000, whether Donald Trump or Kamala Harris wins the upcoming U.S. elections. Steven Lubka, who leads private clients and family offices at Swan Bitcoin, believes it’s highly likely that Bitcoin will surpass six figures by 2025, regardless of who takes office. He explained that Bitcoin’s value is tied to the financial and monetary policies of countries like the U.S., and the outcome of the elections won’t alter this fundamental connection.

To date, both candidates have adopted distinct stances regarding Bitcoin and cryptocurrencies. Trump, for one, has openly expressed his backing for cryptocurrencies and made various promises related to them should he be re-elected as President. Conversely, Harris has been relatively silent on the matter, which is somewhat troubling given her affiliation with the Biden administration, which has historically taken a more restrictive approach towards the crypto industry through actions by the U.S. Securities and Exchange Commission (SEC).

Fears Over A Harris Presidency Are Unwarranted

James Davies, one of the co-founders at Crypto Valley Exchange, stated that concerns about Harris potentially causing Bitcoin’s price to drop if elected are unjustified. He emphasized that the crypto industry will carry on advancing and prospering, regardless of whether or not the U.S. Vice President is victorious. Davies also pointed out that Bitcoin has grown more institutionalized in recent times, especially with the launch of spot Bitcoin ETFs, which contributes to this trend.

Lubka stated that some cryptocurrency analysts might be exaggerating the potential issues under a Harris presidency due to the Biden administration’s unfavorable stance towards the industry. Yet, he also noted that the market indicators from Harris suggest a lessening or “de-escalation” of the Biden administration’s conflict with cryptocurrencies.

Tyrone Ross, who leads 401 Financial as its founder and president (a registered investment advisor), feels certain that the upcoming election between Trump and Harris won’t significantly impact Bitcoin’s performance during the next 18 months. In fact, he holds a positive outlook on Bitcoin prices, pointing out that multiple companies are advocating for ETF access. Moreover, Ross predicts an upcoming reduction in interest rates by the Fed, and retail trading activity remains low at this time.

History Shows That Bitcoin Will Rise Regardless

Previous trends suggest that Bitcoin’s value increases independent of who wins the U.S. elections. In both 2017 and 2021, Bitcoin hit record highs following a presidential election. Consequently, experts predict another rise towards new heights in 2025. The current slow growth in Bitcoin’s price is thought to be due to uncertainties surrounding the upcoming elections.

After the elections, any temporary market fluctuations or instability should subside, paving the way for a potential Bitcoin price surge. This is because investors might become more optimistic and ready to invest more money in high-risk assets such as Bitcoin and other cryptocurrencies.

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2024-09-12 11:04