Trump’s Victory Fuels Bitcoin’s Path to $100,000: Could We See Six Figures by 2024?
More from the Author Sean Williams
Following Donald Trump’s victory in the U.S. presidential election, analysts predict that Bitcoin could reach $100,000 by the end of 2024, driven by pro-crypto policies, increasing institutional investment, and growing market volatility.
Bitcoin ETFs have already seen a surge in inflows, signaling strong support from Wall Street, while favorable regulations and inflation concerns could further boost Bitcoin’s appeal.
Bitcoin, often hailed as “digital gold,” may soon reach a significant milestone. Following Donald Trump’s victory in the U.S. presidential election on November 5, analysts predict that Bitcoin (BTC) could hit an impressive $100,000 by the end of 2024. Trump’s success in reclaiming key swing states has boosted optimism among investors, with expectations of pro-crypto policies that could reshape the regulatory landscape and drive Bitcoin’s growth.
A Volatile Market Awaits
According to Bitget Research’s chief analyst, Ryan Lee, the derivatives market signals a potential surge in Bitcoin’s volatility. With Bitcoin futures showing high implied volatility and a rise in open interest, the stage is set for a major rally. Lee highlights that a record-high stablecoin market capitalization of $160 billion could amplify Bitcoin’s movement, with leveraged trading potentially pushing BTC to new heights.
This looming volatility hints at both risks and opportunities for traders. As the market braces for fluctuations, Bitcoin enthusiasts are watching closely, hoping for a sustained upward trend that could bring Bitcoin closer to the six-figure range by the year’s close.
Favorable Regulatory Winds in Washington
The recent Republican control of both the Senate and Congress has reignited hope within the crypto industry for a regulatory environment that supports innovation. Coinbase CEO Brian Armstrong described this Congress as the “most pro-crypto ever,” emphasizing the potential for policies that promote blockchain technology and digital assets. Lee further noted that Trump’s policies might keep inflation above 3.5% in the medium term. This sustained inflation could bolster Bitcoin’s appeal as an inflation hedge, attracting more institutional investors looking for stability amid economic uncertainty.
Bitcoin ETFs and Institutional Confidence on the Rise
Trump’s victory has already had a notable impact on the crypto market, particularly in Bitcoin ETFs. U.S.-based spot Bitcoin ETFs experienced a net inflow of $621 million on November 6 alone, one of the largest inflows this year. This surge in ETF investments indicates growing confidence among institutional investors, who are increasingly taking long positions in the market.
Economist Alex Krüger predicts that this trend, combined with positive market sentiment, could solidify Bitcoin’s position above $60,000. As institutional involvement deepens and favorable regulations emerge, the pathway to $100,000 appears more achievable than ever.
Will Bitcoin Hit $100K?
While the road to $100,000 is still speculative, the current momentum and optimism around Trump’s policies suggest that Bitcoin may be entering a new phase of growth. With a supportive political landscape, rising institutional interest, and Bitcoin’s appeal as a hedge against inflation, a six-figure milestone by the end of 2024 doesn’t seem far-fetched.
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