Bitcoin to Soar Over $100K No Matter Who Wins U.S. Presidential Election: CNBC Report

September 12, 2024 William Ross Cryptocurrency News 0

Bitcoin to Soar Over $100K No Matter Who Wins U.S. Presidential Election: CNBC Report

In a recent report by CNBC, cryptocurrency experts predicted that Bitcoin is poised to reach six figures, regardless of the outcome of the 2024 U.S. presidential election.

Steven Lubka, head of private clients at Swan Bitcoin, stated, “Bitcoin will likely reach six figures by 2025, whether Donald Trump or Kamala Harris wins.” He emphasized that Bitcoin’s growth is driven more by global fiscal and monetary conditions rather than U.S. political leadership.

James Davies, co-founder of Crypto Valley Exchange, noted, “Fears surrounding a potential Harris presidency and its impact on Bitcoin are overblown.”

He explained that while U.S.-based crypto startups could face some difficulties, Bitcoin’s increasingly institutionalized presence—particularly with the rise of Bitcoin ETFs—will enable the cryptocurrency to thrive in the long term.

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Analysts at Bernstein expect Bitcoin to surge to around $80,000 if Trump wins, while a Harris victory might lead to a temporary dip, pushing the cryptocurrency down toward $40,000. However, Lubka added, “While short-term movements might occur, the medium-term outlook for Bitcoin is unlikely to be affected by the election result.”

Daniel Cawrey, chief strategy officer at Tonkeeper, mentioned, “This election has brought crypto discussions to the forefront, which could result in clearer regulatory frameworks.” Regardless of the election’s outcome, Cawrey suggested that the industry will be better positioned with stronger guidelines.

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William Ross
About William Ross 290 Articles
I am a cryptocurrency enthusiast and writer with over five years of experience in the industry. I have been following the development and innovation of Bitcoin and Ethereum since their inception, and I enjoy sharing my insights and analysis with readers. I have written for various reputable platforms, such as CoinDesk, Cointelegraph, and Decrypt, covering topics such as market trends, regulation, security, and adoption. I believe that cryptocurrency is the future of finance and technology, and I am passionate about educating and informing people about its benefits and challenges.

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