Could Donald Trump’s presidency propel Bitcoin price to an astonishing $125K and transform the entire crypto landscape?
As the 2024 U.S. presidential election approaches, many people in the cryptocurrency community are excited about how Donald Trump’s presidency could impact Bitcoin Price. BTC is close to its highest price of $73,800, analysts think it could go up to $125k if Trump wins the election.
The Current Bitcoin Landscape
Bitcoin has recently risen above $67,000, getting close to its highest price ever. As the political situation heats up, Bitcoin is a big topic in the campaigns of both Trump and Kamala Harris. Many people in the cryptocurrency community are optimistic about Trump becoming president, thinking it could lead to better rules for digital currencies.
Geoff Kendrick, an analyst from Standard Chartered, has made a prediction that Bitcoin could hit $125,000 by the end of the year if the Republicans win Congress. He thinks that if Trump wins the election, Bitcoin could go up by 4% right after the results come out and possibly rise another 10% in the days after that.
Trump’s Influence on Crypto Policy
Trump’s presidency could have a big impact on the cryptocurrency world. His administration is seen as more supportive of crypto than the current one, which is more doubtful. Many people in the Bitcoin community are excited about Trump’s plan to remove Gary Gensler from his position as SEC Chair. Gensler has been criticized for his strict enforcement of rules, which some believe has held back innovation in the crypto industry.
If Trump wins the cryptocurrency rules could change a lot, creating clearer guidelines and more support for crypto companies. This support could bring more money into the market and encourage big companies to invest. This might help stabilize Bitcoin’s well-known price ups and downs, making it a more attractive investment for regular investors.
How Trump’s Presidency Could Impact Crypto?
As the 2024 U.S. presidential election gets closer, Donald Trump’s potential return to office could have a big impact on the crypto industry. He used to be critical of Bitcoin, but lately, Trump has shown he might be more open to cryptocurrency. He has even mentioned that he might support policies to make the U.S. a “crypto nation.” His background in reducing regulations could mean fewer rules for crypto companies, which might lead to more growth in decentralized finance (DeFi) and blockchain projects. However, this could also increase risks related to security and fraud.
If elected, Trump may shape global crypto policies in response to China’s advancements in digital currency and integrate stablecoins like USDT and USDC into the U.S. financial system. His administration’s possible influence over the SEC could reduce regulatory actions, fostering a more open environment for crypto innovation.
Also if Trump includes crypto in his campaign, it could create new rules for how digital currencies are used in political finance. In the end, the next president will have a big influence on the future of cryptocurrency worldwide.
Election Predictions and Market Sentiment
Trump currently has a 66% chance of winning, according to Polymarket. Reports say a big investor, known as a “whale,” has helped raise the chances of Trump winning by betting over $20 million on him. Analyst Kendrick also thinks that even if Kamala Harris wins, Bitcoin could still hit $75,000 by the end of the year. This shows that many people are optimistic about the growth of cryptocurrency regardless of who wins the election.
Leaders at Bitwise think Bitcoin could reach $92,000 if Trump wins, while Deribit expects it to hit $80,000 by the end of November. Larry Fink from BlackRock believes that Bitcoin will keep rising, no matter who becomes president.
Donald Trump’s Presidency: Conclusion
In short, political and financial factors seem to be paving the way for big changes in Bitcoin and the overall crypto world. With Bitcoin nearing $125,000, a Trump presidency could bring major shifts to crypto regulations. Although the election outcome is still unknown, the crypto community is optimistic about the future of digital currencies, regardless of who wins on November 5. As election day approaches, everyone is watching Bitcoin price and the political choices that could drive it to new highs.
As Donald Trump’s presidency potentially reshapes the crypto landscape and paves the way for Bitcoin to reach $125K, stay updated on the latest developments by following CoinMozo on X.
Also Read: Trump vs Harris: How Polymarket’s 66% Odds Signal Crypto’s Role
