 Trump victory may pave way for $100K Bitcoin by end of 2024 
2024-11-07

Donald Trump’s victory in the United States presidential election could set the track for a Bitcoin rally above the all-important six-figure mark.
Trump won the presidential election held on Nov. 5 after capturing key swing states like Pennsylvania, North Carolina and Georgia, which he had lost in 2020.
Trump’s presidency could set the stage for a Bitcoin BTCUSD rally above $100,000, according to Ryan Lee, chief analyst at Bitget Research.
The implied volatility in the derivatives market, along with the open interest in futures markets, are suggesting that traders are positioning for a high volatility Bitcoin move, the analyst told Cointelegraph:

The Bitcoin price reached a new all-time high of above $76,400 on Nov. 6, shortly after Trump was elected president. 
Trump’s coming presidency is seen as a net positive for the cryptocurrency space, as regulatory experts hope to see clearer crypto regulations that favor blockchain innovation.
A Republican Congress will lead to favorable crypto regulations — Bitget Research
Along with Trump’s election, the Republican Party has secured majority control of the US Senate, which Coinbase CEO Brian Armstrong called the “most pro-crypto Congress ever.”
The Republican majority could lead to more business and innovation-friendly regulations, explained Lee:
However, Lee noted that Trump’s policies could also mean that inflation in the world’s largest economy remains above 3.5% in the “medium to long term.”
Bitcoin ETFs scoop up $620 million in BTC after Trump election
Following Trump’s presidential victory, US-based spot Bitcoin exchange-traded funds (ETFs) resumed their buying activity.
On Nov. 6, the Bitcoin ETFs recorded a cumulative $621 million worth of net inflows, marking the 10th largest day of inflows since the ETFs debuted for trading in January, Farside Investors data shows.
The inflows signal Wall Street’s growing confidence in the crypto market’s outlook, explained Bitget Research’s chief analyst, Lee:
Investors are increasingly bullish on Bitcoin price, which may never fall below $60,000 in the future, according to popular economist and trader Alex Krüger.