As the United States election comes near, Bitcoin price prediction by experts gaining significant attention from the crypto community. On August 25, 2024, a crypto expert made a post on X (preciously Twitter) stating that if former President Donald Trump wins this election, Bitcoin will easily go to the $100,000 level.
Bitcoin Price Could Reach $100,000 Level
In addition to this, Skybridge Capital’s Anthony Scaramucci said during an interview, “I do think Bitcoin gets to $100,000. It’s just taking longer. There’s been just more regulatory hurdles, more uncertainty.”
Currently, in the Polymarket, the world’s largest prediction market, 51% of Americans believe that Donald Trump will win the election, while only 47% believe that VP Kamala Harris win. However, pro-crypto and independent presidential candidate Robert F. Kennedy Jr. recently withdrew his candidacy and showed his support for Trump.
Trump’s Impact on Crypto
This indicates Americans are leaning towards electing a crypto-friendly president this time. Additionally, the crypto community has praised Trump’s recent promise to remove Gary Gensler from his position as chair of the Security and Exchange Commission (SEC).
Based on the nature of Trump toward crypto and Blockchain, if he wins we may see more positive and crypto-friendly policies in favor of the cryptocurrency landscape. In addition to this, the Fed Chair’s potential rate cut announcement also turned the sentiment bullish.
Bitcoin Price Prediction
Currently, Bitcoin (BTC) is trading near $64,250 and has experienced a price surge of over 1% in the last 24 hours. Meanwhile, its trading volume has dropped by 31% during the same period, indicating lower participation from traders.
As of now, experts suggest a bullish outlook for Bitcoin, with a high possibility that BTC could reach $68,000 or $71,000 level based on price action and technical analysis. However, the $100,000 level is considered less likely.