30s Summary

Donald Trump’s recent election victory is expected to boost Bitcoin’s value, potentially pushing it past $100,000, according to analyst Ryan Lee. The election has also given the Republican Party control of the US Senate, which Coinbase CEO Brian Armstrong suggests could lead to more favourable crypto regulations. However, Trump’s policies may also cause inflation to rise. Following Trump’s win, Bitcoin ETFs in the US reported $621 million in net inflows. Positive market predictions and increasing interest from Wall Street suggest a fruitful future for Bitcoin.

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Hey, did you hear Donald Trump won the presidential election? Many are guessing this could give Bitcoin a real boost, maybe even past the big $100,000! Trump triumphed in the November 5 elections, bagging big states like Pennsylvania, North Carolina, and Georgia. Last time round, in 2020, he didn’t manage to secure those votes.

So what’s the deal with Bitcoin? Well, if we’re making predictions based on Trump’s win, experts like Ryan Lee, a top dog analyst at Bitget Research, are suggesting Bitcoin might just skyrocket past the $100,000 mark.

All the market chatter and future predictions suggest traders are bracing for a bumpy Bitcoin ride. Lee stated, “With the market capitalisation of stablecoins rocking around $160 billion, there’s some serious leverage in play – pushy enough to send Bitcoin soaring to $100,000 in the next three months.”

Bitcoin didn’t waste any time, it’s price hit an all-time high of more than $76,400 on Nov. 6, not long after the Trump triumph. Most are eyeballing the upcoming Trump term as a solid plus for cryptocurrencies, hoping he could usher in crypto-friendly rules that give a leg up to the growing blockchain tech.

Along with Trump’s election the Republican Party has bagged control of the US Senate – CEO of Coinbase, Brian Armstrong, is calling this the “most pro-crypto congress ever”. The Republican win could pave the way for more constructive regulations, promoting more business and innovation in the crypto scene. But, Lee reminds us, Trump’s policies might fuel inflation in the world’s largest economy, possibly above 3.5% in the medium to long term.

Following Trump’s victory Bitcoin ETFs in the US got busy with buying activity. On Nov. 6, the Bitcoin ETFs logged a hefty $621 million worth of net inflows. This is the 10th largest day of inflows since the ETFs started trading in January, according to Farside Investors data. Looking at these figures, it seems Wall Street is getting keen on crypto, suggests Lee.

Krüger, a well-known economist and trader, shares this optimism and believes Bitcoin prices may never fall below $60,000 in the future. So, seems there’s a lot to look forward to in the Bitcoin world.