Forecasts Suggest Bitcoin Could Hit Six-Figures by 2025 Regardless of Election Results
Steven Lubka, head of private clients and family offices at Swan Bitcoin, recently expressed his upbeat projections on CNBC, stating, “I firmly believe we will see a six-figure value by 2025. This milestone seems inevitable, regardless of the election outcome.”
This positive outlook offers a sense of stability to the unpredictable crypto sector, known for its rapid responses to political news. VanEck has projected a $100,000 target for BTC by the conclusion of 2024 in the event of a Trump triumph.
US Presidential Elections Impact on Crypto Markets
After the recent debate between Vice President Kamala Harris and former President Donald Trump, meme coins supporting the Republican candidate faced a decline in value. Meanwhile, the Democrat gained traction on Polymarket.
Polymarket, a prominent betting platform on Ethereum, displayed Harris leading Trump with a 50% to 49% ratio, accompanied by a nearly $900 billion betting pool.
Bitcoin typically adheres to a cyclical trend throughout its twelve-year history, typically surging after a reduction in supply every four years. With the most recent supply decrease occurring in April, experts anticipate that the full consequences are yet to be fully realized.
Additionally, the current cryptocurrency rates on exchanges are closely linked to the effective federal funds rate dictated by the US central bank. With the Fed signaling a resumption in interest rate reductions, a 25 basis points rate trim is expected during the upcoming FOMC session.
Survey Unveils High Hopes for Crypto Adoption
A recent survey by Deutsche Bank among US consumers revealed a significant shift towards widespread cryptocurrency adoption. The study indicates that 65% of US consumers believe that crypto has the potential to supplant traditional cash in the future.
With growing acceptance and knowledge of cryptocurrencies among the general populace, Bitcoin is poised to remain resilient regardless of the US political climate.
In conclusion, the cryptocurrency market is set for continued growth and development, with Bitcoin’s prospects looking bright irrespective of political circumstances.
