Bitcoin is now at $100,000 OMG!… We all wish this was true right? Okay let’s be real this is possible of course if the U.S went all in to support Bitcoin. Well this could be the case if Donald Trump’s election is successful.
Donald Trump is currently leading in the polls for the 2024 U.S. Presidential election although the news of Biden’s stepdown yesterday could change things.
See Also: Donald Trump Now Holds $32Million Worth Of Crypto
While a Win By Donald Trump is a Win For Crypto
There has been speculation on how a Trump victory could impact Bitcoin. Trump has made several favorable remarks about Bitcoin, suggesting that a future administration under him might create a more supportive environment for cryptocurrencies.
Trump has voiced support for Bitcoin, expressing a desire for more Bitcoin within the U.S. and criticizing any regulatory measures that could hinder its growth, which he believes would benefit foreign rivals like China and Russia.
His running mate, JD Vance, who is renowned crypto supporter, has criticized past regulatory approaches and further supports the notion that a Trump administration might be beneficial for the crypto sector.
In addition to political factors, Bitcoin’s price has also been influenced by expectations of potential interest rate cuts by the Federal Reserve. After rising in 2022, Bitcoin saw declines.
Following an assassination attempt on Trump, betting markets increased his chances of winning the election, and Bitcoin’s price also went up simultaneously, indicating that traders believe a Trump presidency could be favorable for Bitcoin.
Influential crypto figures , such as Mark Andreessen and Ben Horowitz, have also expressed support for Trump, citing frustrations with current regulatory practices.
So a Trump win could definitely push Bitcoin’s price to $100,000.
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