There are high expectations that the cryptocurrency will continue to rise as the election results of 2024 boost it. According to a recent report, Bitcoin is expected to reach $100k before the day of inauguration. Donald Trump This month, I was reelected as President.
A day after results were announced, Trump’s victory had pushed Bitcoin to a record high. According to, the token surpassed $76,000 on the 6th of November, after increasing more than 6% over the past seven days. CoinMarketCap. Results indicate the US could have the first crypto-friendly president ever, which means that its recent rise is only the beginning.
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How much can Bitcoin be worth? The experts predict the all-time high before Inauguration day
Bitcoin had been the focus of cryptocurrency industry at the start the year. In January the US Securities and Exchange Commission, or SEC, approved it to be the first cryptocurrency-based ETF within the United States. It would reach an all-time $73,000 high just three months after that.
The first Bitcoin proponent to be elected into the Oval Office would break this record. The surge in price is also just the start. According to one report, Bitcoin’s price could reach $100k before Trump is inaugurated after Trump was elected earlier in the week.
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Custodian of cryptocurrency Copper Research A report has been released recently on the subject. The report notes that this leading cryptocurrency is likely to maintain its current momentum in the coming year. Fadi Abualfa wrote, the firm’s director of research. The record rise is possible given recent events and its success in 2018.
“We have back-tested the ETF accumulation trend against potential price ranges. A $100,000 Bitcoin is quite possible by the time the 47th US President heads to the Capitol for inauguration on January 20, with ETFs holding approximately 1.1 million Bitcoin.”
This sentiment is in line with what Bitcoin’s overall trajectory has been this year. Trump’s election had a huge impact on Bitcoin ETFs. After his election, the investment vehicle had its highest volume ever. Specifically more than $4 billion in trading was done after the Associated Press declared the race.
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Source: watcher.guru
