Crypto analyst Jamie Coutts suggested that Bitcoin's price might climb to $110,000 due to several economic factors, such as the increase in global money supply and a possible victory of Donald Trump in the election.

Impact of Global Money Supply on Bitcoin

Coutts noted on X that the ongoing growth in the global money supply could be a significant driver for Bitcoin's price increase. He highlighted that as fiat currency circulation rises and Bitcoin's supply remains fixed, the demand for the cryptocurrency is expected to grow.

Potential Impact of Donald Trump's Victory

The possibility of Donald Trump securing another term could serve as an additional factor for Bitcoin's growth. According to Polymarket data, there is a 60.3% probability of his victory, which could positively affect the market. There is a notable decrease in Bitcoin exchange reserves, reaching a six-year low, indicating strong demand.

Key Takeaways and Market Expectations

Coutts highlights several key takeaways regarding Bitcoin's potential rise:

* Growing global money supply is linked to Bitcoin's price increases. * Trump's possible re-election could enhance Bitcoin's market image. * Current market dynamics suggest a strong demand amid diminishing supply.

Market participants should closely monitor fluctuations in the global money supply and Bitcoin's trading momentum. Many are eagerly awaiting whether Coutts' forecast will materialize in the coming months.

The future growth of Bitcoin will depend on a combination of macroeconomic factors and political events. Coutts' forecast sparks interest among market participants closely following the developments.