bullish

Donald Trump

Bitcoin

<p>Currently, the crypto market stands at a valuation of $2.33 trillion. This has witnessed a massive surge in the past two months, with Bitcoin momentarily crossing over the $73,000 mark.&nbsp;</p>  
<p>However, over the past few days, the correction in Bitcoin has dropped its market value to $69,674. Currently, it has registered a 0.61% surge in the past 24 hours and a 3.88% jump in 7 days.&nbsp;</p>  
<p>Despite the short-term setback, dropping the weekly return gains, the 30-day Bitcoin registers a 13.60% jump in the last 30 days. With the upcoming U.S. presidential elections, the growing institutional demand, and the hype of a bullish end to 2024, will the Bitcoin price surge to a new all-time high? Let's find out.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-bitcoin-price-prediction-amid-u-s-presidential-elections-nbsp">Bitcoin Price Prediction Amid U.S. Presidential Elections&nbsp;</h2>  
<p>U.S. presidential elections remain a key catalyst in driving the current Bitcoin prices. Over Polymarket, users anticipate Donald Trump winning the elections by 57.5%. This is remarkably supported by $1.15 billion of trading volume. Meanwhile, Kamala Harris stands at 42.5% of chances.&nbsp;</p>  
<figure class="wp-block-image size-full"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/02191145/image-11.png" alt="Polymarket" class="wp-image-375329">
</figure>  
<p>The pro-stance of Donald Trump towards Bitcoin and other cryptocurrencies makes his possible winning a potential bullish catalyst for Bitcoin.&nbsp;</p>  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/02191152/image-12-1024x509.png" alt="Bitcoin Price chart" class="wp-image-375330">
</figure>  
<p><a href="https://www.tradingview.com/x/baQ9dpn3/" rel="noopener noreferrer nofollow">Tradingview</a></p>  
<p>Per the daily chart, the BTC price is struggling to surpass its all-time high level of nearly $73,600. If Donald Trump wins the U.S. elections, BTC prices are expected to surge.&nbsp;</p>  
<p>Furthermore, if either candidate wins, the broader market anticipates a 0.25 basis point cut in interest rates. Hence, the BTC price will likely surge higher to the 1.272 Fibonacci level at $79,000.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-institutional-support-grows-for-bitcoin">Institutional Support Grows For Bitcoin</h2>  
<p>The growing institutional demand for Bitcoin has been a crucial driving force. Over the past four weeks, U.S. spot Bitcoin ETFs have registered a net positive inflow.&nbsp;</p>  
<p>Leading the trend, BlackRock's IBIT now has a total net asset of $29.95 billion, followed by Grayscale's GBTC of $15.22 billion.</p>  
<h2 class="wp-block-heading" id="h-what-if-trump-loses">What If Trump Loses?</h2>  
<p>In case Donald Trump loses the elections, the growing positive stance from Kamala Harris might play a positive role for Bitcoin. However, the general market sentiment anticipates a minor setback for the crypto market if Donald Trump loses.</p>  
<p>In such a case, the BTC price is likely to find support near the $65,000 support level. However, the potential rate cuts following the US presidential elections will reignite the bullish trend. Hence, the loss of Donald Trump might be a bittersweet situation for Bitcoin holders.</p>  
<p>Curious to know if Bitcoin will hit $100,000 in 2024? Find a technically and logically driven answer in Coinpedia’s <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">BTC price prediction, </a>and subscribe to us for the latest crypto updates!</p>

Trump vs. Harris: Will U.S. Elections Drive Bitcoin to a New All-Time High?

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