Markets
Expert Predicts Bitcoin Price Surge to $100,000 Thanks to Trump’s Pro-Crypto Campaign
Todd Gordon Predicts Bitcoin Could Hit $100,000 as Trump’s Pro-Crypto Stance Boosts Bitcoin and Related Stocks
Former U.S. President Donald Trump is positioning himself as a pro-crypto candidate in the upcoming elections.
The move has sparked a flurry of reactions in the cryptocurrency market, with Bitcoin leading the way. As Trump surges in polls and prediction markets, crypto enthusiasts are noticing a correlation with Bitcoin’s upward trajectory.
Bitcoin price has seen a notable increase, reaching $63,217 today, up 0.66% in the last 24 hours and 9.86% in the last week.
Alongside Bitcoin, cryptocurrency-related stocks like Coinbase, MicroStrategy, Riot Platforms and Marathon Digital have also seen gains. Investors and traders are capitalizing on these trends, viewing Bitcoin as potentially tied to Trump’s political fortunes.
Expert Opinion on Bitcoin Chart
Todd Gordon shared his analysis on Bitcoin’s performance on CNBC’s Last Call. He pointed out that Bitcoin’s chart looks promising, despite past fluctuations.
“I don’t see any reason why we couldn’t reach over $100,000 this time,” he said. @ToddGordonTA on #Bitcoin Trump, Vance Create Pro-Crypto Presidential Ticket: ‘We Should Be Able to Take That Step This Year’ $BTC pic.twitter.com/WqUAqP5qOR
— Last Call (@LastCallCNBC) July 16, 2024
Bitcoin has been on a real back-and-forth, he says, hitting $70,000, dropping to $19,000, and then rising back to $70,000. He attributes this resilience to regulatory factors, macroeconomic conditions, and the correlation between growth and trade.
Gordon highlighted the potential of Bitcoin exceed $100,000, subject to market conditions and regulatory support.
He also noted that bitcoin is in a consolidation phase, with some seasonality working in its favor. According to him, if interest rates and the regulatory environment cooperate, enthusiasts should see a significant move this year.
Previous Predictions
Bitcoin price volatility has seen significant fluctuations since 2017, with major spikes in January 2018, December 2020, and November 2021.
Recent trends suggest a more stable market situation despite a recovery in early 2024. Analysts like Quinn Thompson, CEO of Lekker Capital, are bullish, predicting Bitcoin at $100,000 and Ethereum at $7,000 by November.
Thompson attributes his prediction on factors such as the US presidential election, increased Federal Reserve liquidity and the launch of the Ethereum ETF.
Additionally, other analysts, such as Jelle and financial educator Robert Kiyosaki, predict substantial growth for Bitcoin. believes Bitcoin’s surge to $100,000 is imminent, given current market conditions. Meanwhile, Kiyosaki predicted Bitcoin will hit $150,000, highlighting its potential as a key asset for financial freedom.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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