Elections in USA: Bitcoin will cross $100,000 no matter what!
Bitcoin might reach highs of more than $100,000, according to predictions made by cryptocurrency experts, independent of the outcome of the presidential election in the United States in 2024. Rather than being focused on the politics of the United States, this prediction is based on the global fiscal and monetary conditions, as stated in a report.
Steven Lubka, who is the head of private clients at Swan Bitcoin, is of the opinion that Bitcoin will most certainly hit six figures by the year 2025, regardless of whether Kamala Harris or Donald Trump is in office. He makes the point that the rise of Bitcoin is more impacted by the conditions of the global economy than it is by the political leadership in the United States.
One of the co-founders of Crypto Valley Exchange, James Davies, is in agreement. While it is possible that cryptocurrency companies in the United States would face difficulties if Harris is elected president, he observes that Bitcoin's rising institutional presence, particularly with the growth of Bitcoin exchange-traded funds (ETFs), will allow the cryptocurrency to flourish over the long term. In addition, Davies states that Bitcoin is a global commodity and that the market does not respond negatively to partisan events that occur in the United States during this time.
In the event that Trump is re-elected, Bernstein analysts forecast that the price of Bitcoin may fall to approximately $90,000. On the other hand, a victory for Harris could result in a temporary decrease towards $40,000. Lubka, on the other hand, is adamant that Bitcoin's medium-term perspectives should not be influenced by short-term fluctuations.
Some investors are anxious that Vice President Harris may take a more aggressive regulation approach, akin to that of Senator Elizabeth Warren and SEC Chairman Gary Gensler. This is despite the fact that she has not yet disclosed her position on cryptocurrencies. Bitcoin, on the other hand, has historically performed well despite the stringent scrutiny of regulatory authorities.
Experts continue to be positive about Bitcoin's long-term prospects, despite the fact that the presidential election in the United States in 2024 may generate volatility in the price of Bitcoin in the short term. It appears that the growth of Bitcoin is more driven by the conditions of the global economy than by the results of elections, which indicates that the cryptocurrency has a promising future.