Trump’s victory, announced on November 6, has already spurred Bitcoin to a new high of around $76,400, with top analysts such as TYMIO Yield founder Georgii Verbitskii predicting that Bitcoin could surpass $100,000 in the coming months.
During Trump’s first term as U.S. president, which ran from November 2016 to November 2020, Bitcoin surged more than 1,900%. This was despite his critical stance on cryptocurrencies at the time, which included a post blasting Bitcoin as “highly volatile” and “without basis for value.”
However, given Trump’s promise to make the United States a “Bitcoin superpower” and relax regulations to promote the development of the cryptocurrency industry, Trump’s second term seems to be more favorable to the cryptocurrency industry.
Trump’s victory, announced on November 6, has already spurred Bitcoin to a new high of around $76,400, with top analysts such as TYMIO Yield founder Georgii Verbitskii predicting that Bitcoin could surpass $100,000 in the coming months.
Will Bitcoin Break $1 Million by 2028?
Based on the current price, assuming Bitcoin rises by 1,900%, the price will be around $1.5 million.
This would make Bitcoin an asset class worth $28.5 trillion, almost eight times the market value of Nvidia, the world's largest company, and 1.6 times the market value of gold.
Obviously, Bitcoin reaching $1 million is a lofty goal, but this price has been predicted by prominent analysts in both traditional finance and cryptocurrency for years.
ARK Invest CEO Cathie Wood previously predicted that the price of Bitcoin will exceed $1 million by 2030, and pointed out that major investment banks such as Morgan Stanley, Merryl Lynch and Bank of America may enter the Bitcoin field.
Henry Arslanian, co-founder of Dubai-based Nine Blocks Capital Management, reiterated a similar sentiment in a Nov. 6 post on X, noting that a Trump victory would lead to “further involvement of institutional players” in U.S. cryptocurrencies, from asset managers to family offices.
Bitcoin price target: $100,000, $250,000
Most analysts predict that the Bitcoin market will rise sharply after Trump's victory.
According to cryptocurrency research firm 10x Research, BTC prices could rise to $100,000 by January 2025, noting that “when Bitcoin hits a new 6-month high for the first time in 6 months, as it did recently, it typically sees a 40% gain over the next 3 months.”
Meanwhile, independent market analyst Magnus said Bitcoin will approach $250,000 in the next 12 months, citing a sharp rise in Bitcoin prices after the US election.
He said: "After the 2016 election, the price of Bitcoin rose 2,747%; after the 2020 election, Bitcoin rose 360%; in 2024, the president supports Bitcoin. Even if the increase is only 240%, it means that Bitcoin will rise to $250,000."
