As the US election approaches, Bitcoin price predictions from experts in the crypto community are gaining increasing attention. On August 25, 2024, a crypto expert on X (formerly Twitter) published a post stating that Bitcoin would easily hit the $100,000 mark if former President Donald Trump wins this election.
Bitcoin price could reach $100,000 mark
In addition, Anthony Scaramucci of Skybridge Capital said in an interview: “I believe Bitcoin will reach $100,000. It just takes longer. There are just more regulatory hurdles, more uncertainty.”
Currently, on Polymarket, the world’s largest prediction market, 51% of Americans believe Donald Trump will win the election, while only 47% believe Vice President Kamala Harris will win. However, pro-crypto and independent presidential candidate Robert F. Kennedy Jr. recently withdrew his candidacy and showed his support for Trump.
Trump’s influence on crypto
This suggests that Americans are more inclined to elect a crypto-friendly president this time around. In addition, the crypto community has praised Trump’s recent promise to remove Gary Gensler from his post as chairman of the U.S. Securities and Exchange Commission (SEC).
Due to Trump’s stance on crypto and blockchain, we might see more positive and crypto-friendly policies in favor of the cryptocurrency landscape if he wins the election. In addition, the Fed Chairman’s announcement of a possible rate cut also created a positive sentiment.
Bitcoin price prediction
Currently, Bitcoin (BTC) is trading at around $64,250 and has seen a price increase of over 1% in the last 24 hours. At the same time, trading volume has dropped by 31% in the same period, indicating lower participation from traders.
Currently, experts have an optimistic forecast for Bitcoin. Based on the price action and technical analysis, there is a high probability that BTC could reach the $68,000 or $71,000 mark. However, the $100,000 mark is considered less likely.
