Trump's victory in the U.S. elections, the reduction of the Fed rate by 50 b. p. with new stimulus from the PRC and the absence of serious surprises in the industry - the conditions for the growth of bitcoin above $80,000 before the end of the year. This was stated in #Bitwise , writes The Block.
CIO of the company Matt Hougan confirmed the forecast for the end of 2023. Then he named the approval of the #BTC-ETF. and the fourth halving as drivers.
In the last note, the expert emphasized that the realization of the scenario may be hindered by the victory of the Democratic candidate Kamala Harris.
âThe party has different views on cryptocurrencies, from Senator Elizabeth Warren's âanti-cryptoarmyâ to House member Richie Torres' deep support. 'The problem over the last four years is that the former has controlled agency policies and appointments, and this has created a hostile environment for the sector,' Hougan pointed out.â
CIO Bitwise is convinced that $BTC
bitcoin needs politicians to âget out of the way.â
âAbsent a Democrat majority in both houses of Congress and a Harris victory, the party will take a more neutral approach to the industry,â the specialist predicted.
#Prediction platform #Polymarket points to a 20% chance of full control of the legislature by the âdonkeysâ versus 33% for the âelephants.â Participants of the service estimate the probability of Trump's victory at 53%, CIO Bitwise pointed out.
Regarding surprises in the industry, Hougan explained that we are talking about âhacks, large-scale lawsuits and major coin crackdowns.â
The expert is convinced that digital gold does not need the support of Ethereum, Solana or ânew altcoins like $SUI
, Aptos and Monadâ to rally.
A âfull-scale surgeâ to $100,000 in just a few months would require the pro-cryptocurrency sentiment to encompass the entire market, Hougan added.
Bitwise's CIO concluded by noting that bitcoin is already having a good year thanks to its entry into the mainstream among policymakers and increased institutionalization through ETFs.
âRegardless of what happens this year, the digital gold exchange rate will aim for $80,000 and much higher in 2025,â he explained.
