Analysts expect Bitcoin to break $90,000 in Q4 2024, but first
Bitcoin price predictions have been mixed, particularly for a new all-time high following the collapse. Bearish feelings persist, but many predict optimistic times are coming for the pioneer cryptocurrency. Bitcoin might reach $90,000, according to Bernstein analysts, but with a catch.
Donald Trump Must Win US Presidential Elections
Bernstein analysts have said that Bitcoin may reach $100,000 from here. This is significantly dependent on the highly anticipated US presidential elections on Tuesday, November 5, 2024.
On Monday, analysts Mahika Sapra, Sanskar Chindalia, and Gautam Chhugani narrowed it down to former president Donald Trump in a client note. According to economists, Donald Trump becoming president will boost Bitcoin prices.
This is because Trump has publicly supported the crypto business and owns millions of dollars in cryptocurrencies. They said a Trump victory would raise the price to $80,000–$90,000 by the fourth quarter of 2024.
Instead, they think Vice President Kamala Harris winning will hurt the crypto business. If Harris defeats Trump, they predict a Bitcoin price fall. The goal is to drop below $50,000 and potentially below $30,000 in the next downturn.
Trump Likes Bitcoin
Donald Trump has been the most vociferous Bitcoin contender, proposing a national Bitcoin stockpile to store government-held BTC. Industry executives worried that the idea might divert confiscated crypto money. In the proposal, Trump supports Bitcoin, but the message has already been conveyed.
Republican initiatives include four Bitcoin Ordinals non-fungible token (NFT) collections. Following his keynote address at the 2024 Bitcoin conference, Donald Trump launched a Bitcoin-themed shoe line in early August.
Finally, Trump has said that Bitcoin may be a strategic reserve asset for the US. These factors have prompted investors to conclude that a Trump victory in November will benefit crypto.
#BTC #CPI_BTC_Watch #PowellAtJacksonHole #CryptoMarketMoves $BTC
