Cryptocurrency enthusiasts are optimistic that Bitcoin will hit $100,000 regardless of the outcome of the U.S. presidential election featuring Donald Trump and Kamala Harris. The upcoming election has put the spotlight on the crypto industry, prompting various speculations with the election results as a crucial variable. Nevertheless, the past has shown that Bitcoin remains unfazed by the election victor.
A recent CNBC report emphasized the belief among crypto investors that Bitcoin’s value will soar to six figures irrespective of whether Trump or Harris emerges victorious in the election. Steven Lubka, head of private clients and family offices at Swan Bitcoin, confidently stated that reaching the $100,000 milestone by 2025 is highly probable, with the cryptocurrency’s value intrinsically linked to economic dynamics not swayed by election outcomes.
While both candidates have different stances on Bitcoin and digital currencies, with Trump openly supporting crypto and Harris maintaining silence, fears of a Harris presidency adversely affecting Bitcoin’s price are deemed unfounded by James Davies, co-founder of the Crypto Valley Exchange. Davies asserts the industry will flourish regardless of the election outcome, citing Bitcoin’s growing institutional acceptance, particularly with the introduction of spot Bitcoin ETFs.
Furthermore, industry experts like Tyrone Ross, founder of 401 Financial, foresee minimal impact on Bitcoin from the election, highlighting bullish trends and potential Federal Reserve rate cuts ahead. The prevailing market sentiment underscores the notion that Bitcoin will continue its upward trajectory, as seen in historical patterns following previous elections.
In the midst of current market volatility exacerbated by election uncertainty, a post-election Bitcoin price recovery is anticipated, fostering confidence in investing in risk assets like Bitcoin. As the presidential race unfolds, the trajectory of Bitcoin’s value is poised to forge ahead, undeterred by election outcomes.