Crypto analysts examine the levels that Bitcoin (BTC) could reach if Donald Trump becomes the 47th president.
Bull appetite has increased for the first time since the start of the Terra crisis and the bankruptcy of FTX. Analysts, who thought the three-year bear market was over, began to point to new records for Bitcoin. US President Donald Trump started these speculations.
“US Will Be Bitcoin Hub” said Trump, who won the November 6 US presidential election against Kamala Harris. BTC, which has broken back-to-back records since the aforementioned date, has shaped analysts’ predictions.
Many analysts have predicted that BTC will reach $100,000 before Trump takes office on January 20.
What are the expectations of Bitcoin?
Bitcoin breaks a record, hitting $76,900 just days after Donald Trump won the US presidential election.
Analysts are increasing their Bitcoin (BTC) predictions, thinking that a crypto-friendly political environment will emerge under Trump’s presidency. According to Ryan Lee, chief analyst at Bitget Research, BTC will rise above $100,000 after the election. Lee cited the volume of open interest (OI) in futures markets and the growing market dominance of stablecoins as bullish indicators.
Lee used the following statements:
“The market capitalization of stablecoins has reached $160 billion and their record-breaking dominance rate is increasing the number of futures in the market. “Rising interest pushes BTC to $100,000.”
Copper.co research director Fadi Aboulfa made a similar prediction. Abu Alfa commented on Trump’s victory:
“On January 20, when the 47th US President Donald Trump walks into the Congress building for his inauguration ceremony, the price of BTC could be around 100 thousand dollars. It is also worth remembering that ETFs have around 1.1 There are millions of BTC.
Aboualfa attributed his price prediction to appetite in spot Bitcoin ETFs.
Gert van Leegen, known for his technical analysis, explained that the formation in BTC indicates higher price levels. The analyst argued that BTC could make a possible parabolic rise to $200 thousand.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
