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Bitcoin on Track to $1 Million After Trump's Win?

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by A1

2 months ago

Donald Trump's presidency is associated with a significant rise in Bitcoin prices. What are the prospects for cryptocurrency in his second term?

Bitcoin Growth During Trump’s First Term

From November 2016 to November 2020, Bitcoin's price increased by over 1900%. Despite Trump's criticism, his second election may turn out to be more favorable for the cryptocurrency industry.

Bitcoin's Potential to Hit $1 Million

If the current growth dynamics continue, Bitcoin's price could exceed $1.5 million per coin, making it a $28.5 trillion asset, vastly surpassing companies like Nvidia and even gold.

Ark Invest CEO Cathie Wood previously forecasted that BTC's price will exceed $1 million by 2030.Cathie Wood

Bitcoin Price Forecasts Post-Trump's Victory

Following Trump's victory, analysts expect significant increases in Bitcoin's value, with target ranges from $100,000 to $250,000. Some argue that his election will enable further entry of institutional players into the US crypto market.

In 2016 BTC pumped by 2747% post-election. In 2020 BTC pumped by 360% post-election. In 2024, with a pro-Bitcoin president, even a 240% pump would mean $250,000 per Bitcoin.

Analysts continue to debate Bitcoin's growth potential in light of political changes in the US. Still, many agree that if such growth rates were to continue, Bitcoin could reach new heights.

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