Bitcoin (BTC) could hit $100,000 if former United States President Donald Trump wins the 2024 presidential election, according to on-chain analyst Crypto Rand. Crypto Rand told Cointelegraph that policies under the Trump administration would have led to "tremendous growth" in the crypto market. Basel Ismail, CEO of crypto research firm Blockcircle, added that altcoins could rally if the U.S. Securities and Exchange Commission (SEC) chair is replaced following a Trump presidency. The analysts believe that Trump's pro-business and anti-regulation stance would create a favorable environment for cryptocurrencies. They also point to Trump's appointment of SEC Commissioner Hester Peirce, who has been critical of the agency's approach to crypto regulation, as a positive sign. If Bitcoin does hit $100,000, it would be a major milestone for the cryptocurrency. It would also represent a significant return on investment for those who have held BTC through the recent market downturn.