 How high can Bitcoin price go before Trump's inauguration?  
2024-11-08

Bitcoin BTCUSD is in price discovery, hitting new record highs of $76,990 on Bitstamp, a day after Donald Trump emerged victorious in the United States Presidential Election. 
Here’s what analysts are predicting for Bitcoin as the market participants hope for a more crypto-friendly business environment under Trump’s presidency.
Bitcoin price on track to $100K after Trump’s win
 Bitcoin price will likely breach the $100,000 mark following Trump’s US presidential election win, according to Ryan Lee, chief analyst at Bitget Research. 
Lee said that the high open interest (OI) in futures markets along with the increasing market dominance of stablecoins, suggest that traders are positioning themselves for high volatility in the price of Bitcoin. 

Similar predictions were made in a Nov. 6 report by digital asset custodian Copper.co., which pointed out that Bitcoin’s upward trajectory may continue into the new year with a $100,000 target.
Related: Bitcoin can go ‘parabolic’ with BTC price weekly close above $71.5K — Analysis
Trump’s win reflects heightened market optimism and anticipation of potential policy shifts favorable to digital assets, said Fadi Aboualfa, Head of Research at Copper.co, adding: 
Copper.co’s prediction is based on historical spot Bitcoin ETF accumulation trends and current market data.

Trump’s second term is viewed as bullish for the cryptocurrency space, where many industry participants expecting clearer crypto regulations that favor blockchain innovation.
Lee also noted that Trump’s policies could also mean that inflation in the world’s largest economy will remain above 3.5% in the “medium to long term.”
BTC price could hit $200K under Trump’s presidency
In a Nov. 7 post on X, technical analyst Gert van Lagen observed that BTC’s price surged beyond the key reaccumulation phase of the “descending broadening wedge,” indicating a potential parabolic move toward the $200,000 zone.

Lagen’s chart reveals that the reaccumulation phase, a consolidation period following Bitcoin’s price rally earlier this year, seems to be nearing its end as BTC is back in price discovery.
The next projected target is between $90,000 and $100,000, with the ultimate goal of reaching $200,000 in around May 2025.
Crypto YouTuber Lark Davis also appears bullish for the next 90 days. 
“We’re most likely going to see a $100,000 Bitcoin in the next 3 months,” Davis said in response to BTC’s new all-time highs near $77,000.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.