With the US elections approaching, Bitcoin price predictions by experts are gaining a lot of attention from the crypto community. On August 25, 2024, a crypto expert posted a message on X (particularly 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
Additionally, Skybridge Capital’s Anthony Scaramucci said in an interview: “I think Bitcoin will hit $100,000. It’s just going to take longer. There’s just more regulatory hurdles, more uncertainty.”
Currently, 51% of Americans in the Polymarket, the world’s largest prediction market, believe Donald Trump will win the election, while only 47% believe VP Kamala Harris will win. However, pro-crypto and independent presidential candidate Robert F. Kennedy Jr. recently withdrew his candidacy and pledged his support for Trump.
Trump’s Impact on Crypto
This indicates that Americans are leaning towards electing a crypto-friendly president this time around. Additionally, the crypto community has praised Trump’s recent promise to remove Gary Gensler from his position as chairman of the Security and Exchange Commission (SEC).
Based on Trump’s nature towards crypto and Blockchain, if he wins, we may see more positive and crypto-friendly policies in favor of the crypto landscape. In addition, the announcement of the possible rate cut by the Fed Chairman also created a bullish sentiment.
Bitcoin Price Prediction
Currently, Bitcoin (BTC) is trading at almost $64,250 and its price has seen a price increase of more than 1% over the past 24 hours. Meanwhile, the trading volume has dropped by 31% over the same period, indicating lower participation from traders.
Experts are now suggesting a bullish outlook for Bitcoin, with a high probability that BTC can reach the $68,000 or $71,000 level based on price action and technical analysis. However, the $100,000 level is considered less likely.
