Crypto investors are celebrating Donald Trump’s victory in the 2024 US Election, where he defeated Kamala Harris. This win has sparked optimism in the crypto market, with many hoping for Bitcoin to hit $100K. The election result also highlights the growing influence of crypto in US politics.
Trump Wins the US Election Many investors are excited about Trump’s victory, which has boosted confidence in the crypto market. According to the Stand With Crypto report, Trump won the presidential race, meeting market expectations and signaling the increasing impact of crypto on US politics. Recently, Coinbase CEO Brian Armstrong pointed out how more voters supported pro-crypto candidates in the election.
This has led to discussions about how the US SEC (Securities and Exchange Commission) might change its approach to digital assets. The SEC has been seen as a major obstacle to crypto growth, but Trump’s win could signal a shift.
Trump’s victory has also fueled hopes of a strong crypto rally. Bitcoin recently hit a new all-time high, and many believe it could soon reach $100K.
Could Bitcoin Price Reach $100K? Bitcoin recently reached a new high of $75,361, sparking hopes of even higher prices. At the time of writing, Bitcoin had risen more than 6% in the last 24 hours, with trading volume up 129% to $95.64 billion. Futures trading also saw an increase, signaling growing optimism.
Historically, Bitcoin tends to rise after US elections. Last time Trump won, Bitcoin surged by 2700%. If history repeats itself, Bitcoin could hit $2 million by 2025. A recent Bitcoin price prediction also suggests it could reach $100K by 2025, further boosting investor optimism.
What Could Drive the BTC Rally? The market was already expecting a crypto rally, but Trump’s victory has strengthened those predictions. Trump has been a vocal supporter of Bitcoin, even saying he would make Bitcoin a strategic reserve for the US if elected. This has raised hopes among investors that Bitcoin’s price could rise significantly.
Trump also showed his support for Bitcoin during his election campaign, even purchasing Bitcoin at a pub. This, along with other positive trends in the market, has led many to believe that Bitcoin will soon break past $100K.
Additionally, the upcoming US Federal Open Market Committee (FOMC) meeting is expected to increase market optimism, with many hoping for a rate cut by the Federal Reserve.
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