Bitcoin Soars to $79,000 Amidst Political Changes

user avatar

by Giorgi Kostiuk

2 years ago

Donald Trump's victory in the U.S. presidential elections propelled Bitcoin to new heights, reaching $79,000. This rise was driven by both political initiatives and institutional interest.

The Trump Effect and Bitcoin’s Rise

Following Donald Trump's re-election, Bitcoin rose to $79,000, linked to the U.S. administration’s idea of establishing a national reserve in Bitcoin. Analyst PlanB, known for his stock-to-flow model, stated, “if history repeats itself and the stock-to-flow model continues to guide, we will witness a skyrocketing price.”

if history repeats itself and the stock-to-flow model continues to guide, we will witness a skyrocketing pricePlanB

Institutional Enthusiasm and PlanB’s Forecasts

Analyst PlanB highlights the potential for Bitcoin to rise to $500,000 in the next cycle. Using the stock-to-flow model, PlanB estimates a price range between $250,000 and $1,000,000 per unit. Additionally, companies like MicroStrategy plan to acquire 200,000 BTC annually, strengthening institutional influence on the market.

Risks and Potentials of the Bitcoin Market

While institutional interest drives Bitcoin’s growth, there are concerns over excessive speculation and price manipulation. Observers warn of ‘spoofing,’ a technique aimed at artificially affecting prices, which may limit expected gains and create market volatility.

Bitcoin's rise to $79,000 amidst Trump’s victory and PlanB’s predictions highlights the significance of political decisions in the crypto market. However, regulation and manipulation control remain key challenges for the industry.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

SEC Files Charges Against Richard Heart for Fraud

The SEC charged Richard Heart and his entities with conducting unregistered offerings of crypto asset securities.

user avatarMaria Fernandez

HTX Marks 13th Anniversary with Major Celebrations and Trading Events

HTX celebrated its 13th anniversary with major events, including the Anniversary Carnival and Trading Championship 3, highlighting its resilience in the crypto market.

user avatarKenji Takahashi

Richard Heart Arrested in Istanbul on Interpol Charges

Richard Heart, founder of Hex cryptocurrency, was detained in Istanbul under an Interpol Red Notice for aggravated tax fraud.

user avatarGustavo Mendoza

MediaMarkt Saturn Ceases Sales of Ledger Devices Amid Security Concerns

MediaMarkt Saturn has stopped selling Ledger devices due to security concerns following a customer report of a hidden implant.

user avatarRajesh Kumar

Binance Expands into Traditional Finance as Mining Pool Closes

As Binance prepares to shut down its mining pool, the exchange is expanding into traditional finance by providing access to over 7,000 US stocks and ETFs for customers outside the United States.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.