Analysts at Coingabbar predict that Bitcoin could surge to a staggering $125,000 by the end of the year if Republicans secure control of Congress in the U.S. elections scheduled for November 5. In the lead-up to the elections, they anticipate Bitcoin reaching around $73,000—just shy of its current record high of $73,800.
Things could get even more interesting if Donald Trump secures the presidency. Coingabbar predicts that a Trump victory would cause an immediate 4% spike in Bitcoin’s price, followed by an additional 10% jump in the days following the election. Trump's chances of winning are currently estimated at 59%, as per the prediction market platform Polymarket.
Reports have revealed that a single whale investor significantly impacted the odds in Polymarket by betting over $20 million on Trump’s victory, increasing his chances in the prediction market. This bet has drawn attention, further intensifying the market’s anticipation of a Trump-led presidency.
Even if the Democratic nominee Kamala Harris wins the presidency, analysts forecast a positive trajectory for Bitcoin, with a year-end target of $75,000. This aligns with broader market expectations that the cryptocurrency's growth will continue regardless of the election outcome.
Several industry leaders have shared optimistic predictions for Bitcoin’s price. Executives at Bitwise anticipate a peak of $92,000 if Trump secures the election. On the other hand, Deribit projects Bitcoin to hit $80,000 by the end of November. Larry Fink from BlackRock believes that Bitcoin's momentum will remain strong, irrespective of the election results.
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