Donald Trump

Bitcoin

President Donald Trump

Bitcoin (<a data-ct-non-breakable="null" href="https://x.com/TheCryptoLark/status/1851243847780876344" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/TheCryptoLark/status/1851243847780876344">BTC</a>) is struggling for direction a day before the United States presidential election, with <a data-ct-non-breakable="null" href="https://www.bloomberg.com/news/articles/2024-11-03/harris-trump-blitz-battlegrounds-as-final-polls-show-tight-race?srnd=homepage-americas" rel="nofollow noopener" target="_blank" text="null" title="https://www.bloomberg.com/news/articles/2024-11-03/harris-trump-blitz-battlegrounds-as-final-polls-show-tight-race?srnd=homepage-americas">polls</a> depicting a tight race between Former President Donald Trump and Vice President Kamala Harris.
Here’s what analysts are predicting for Bitcoin as the standoff between Trump and Harris approach.
<h2 id="bitcoin-could-hit-80-90k-if-trump-wins">Bitcoin could hit $80-90K if Trump wins</h2>
The Bitcoin price <a data-ct-non-breakable="null" href="https://www.cnbc.com/2024/09/09/bitcoin-could-top-80000-if-trump-wins-election-bernstein-says.html" rel="nofollow noopener" target="_blank" text="null" title="https://www.cnbc.com/2024/09/09/bitcoin-could-top-80000-if-trump-wins-election-bernstein-says.html">will likely reach $80,000-90,000</a> next if Trump wins the election, according to Bernstein analysts. 
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 <img alt="3 bold Bitcoin price predictions as the US Election nears finishline&nbsp;&nbsp;" src="https://s3.cointelegraph.com/uploads/2024-11/0192f819-21ab-7a3c-babf-6bf20adc069b" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/el_crypto_prof/status/1853370462803267757" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/el_crypto_prof/status/1853370462803267757">X</a>
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Trump’s support for Bitcoin and cryptocurrencies is the main reason behind the bullish outlook. In his electoral rallies, he has <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-vows-us-world-capital-crypto-taps-elon-musk-task-force" rel="" target="_self" text="null" title="https://cointelegraph.com/news/trump-vows-us-world-capital-crypto-taps-elon-musk-task-force">publicly advocated</a> for the US to become a leader in the cryptocurrency industry.
Key proposals include appointing a crypto-friendly SEC chair to ease regulatory pressures, establishing a national Bitcoin reserve to support BTC adoption, and making the US a hub for Bitcoin mining.
Bernstein’s bullish prediction for Bitcoin aligns with <a data-ct-non-breakable="null" href="https://x.com/el_crypto_prof/status/1853370462803267757" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/el_crypto_prof/status/1853370462803267757">a fractal analysis</a> showcasing BTC reaching new all-time highs following US presidential elections, particularly when aligned with its halving events that occur approximately every four years.
For instance, in 2012, after the first halving in November, Bitcoin rallied from around $12 to its then all-time high of approximately $1,150 by late 2013—a surge of nearly 9,500%. 
<figure>
 <img alt="3 bold Bitcoin price predictions as the US Election nears finishline&nbsp;&nbsp;" src="https://s3.cointelegraph.com/uploads/2024-11/0192f81f-fa72-7f13-bdaa-90a26b1ef2b0" title="">
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 BTC/USD weekly price chart. Source: Moustache
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Similarly, in 2016, the second halving was followed by another strong rally. Bitcoin rose from around $650 in mid-2016 to around $20,000 in December 2017, marking an increase of over 3,000% from the pre-halving period.
The third cycle followed the same pattern. After the May 2020 halving, Bitcoin rose from around $9,000 and reached a new high of $69,000 in November 2021. 
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/crypto-trump-election-bets" rel="null" target="null" text="null" title="https://cointelegraph.com/news/crypto-trump-election-bets">Crypto whales bet big on Trump win ahead of US election</a> 
With the fourth halving recently completed in April 2024, and the US election set for Nov. 5, historical trends suggest potential for another upward movement in Bitcoin’s price, probably toward Bernstein’s $80,000-90,000 target.
In October, they had <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-200k-end-2025-bernstein-forecast" rel="null" target="null" text="null" title="https://cointelegraph.com/news/bitcoin-200k-end-2025-bernstein-forecast">predicted</a> a BTC price rally toward $200,000 in 2025 regardless of the US election outcome.
<h2 id="bitcoin-will-see-instant-dump-on-a-harris-win">Bitcoin will see “instant dump” on a Harris win</h2>
Market analyst Miles Deutscher suggests that Bitcoin will likely reach $100,000 or higher regardless of who wins the US presidential election, but the path and timing would differ based on the outcome.
He <a data-ct-non-breakable="null" href="https://x.com/milesdeutscher/status/1853453218086613140" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/milesdeutscher/status/1853453218086613140">argues</a> that Harris winning the US election will cause an “instant dump” in the Bitcoin market. That will likely happen due to market fears that Harris’s administration could maintain or even strengthen regulatory scrutiny on crypto.
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 <img alt="3 bold Bitcoin price predictions as the US Election nears finishline&nbsp;&nbsp;" src="https://s3.cointelegraph.com/uploads/2024-11/0192f82b-e49c-7a83-90e4-8b345475f776" title="">
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 Source: X
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The outlook aligns with growing <a data-ct-non-breakable="null" href="https://polymarket.com/event/what-price-will-bitcoin-hit-in-november?tid=1730700960864" rel="nofollow noopener" target="_blank" text="null" title="https://polymarket.com/event/what-price-will-bitcoin-hit-in-november?tid=1730700960864">Polymarket bids</a> on a Bitcoin price crash in November.
For instance, the strongest bets are for a drop to $65,000, with a 75% implied probability for Bitcoin to reach the level, as indicated by the 76¢ price for "Yes" shares.
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 <img alt="3 bold Bitcoin price predictions as the US Election nears finishline&nbsp;&nbsp;" src="https://s3.cointelegraph.com/uploads/2024-11/0192f828-a1c9-7320-a4aa-2be9874bbb12" title="">
 <figcaption style="text-align: center;">
 Bids on Bitcoin price target for November. Source: Polymarket
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<h2 id="bitcoin-to-100k-by-november-s-end">Bitcoin to $100K by November’s end? </h2>
November has historically been the most profitable month for Bitcoin since 2013, delivering a 46% average return. That has prompted analyst Lark Davis to anticipate similar upside runs in 2024.
“If we see a 46% pump from current prices, it would take BTC to $104,000,” he noted in his <a data-ct-non-breakable="null" href="https://x.com/TheCryptoLark/status/1851243847780876344" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/TheCryptoLark/status/1851243847780876344">recent X post</a>.
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 <img alt="3 bold Bitcoin price predictions as the US Election nears finishline&nbsp;&nbsp;" src="https://s3.cointelegraph.com/uploads/2024-11/0192f835-865f-71bb-9aaf-df38eee246bb" title="">
 <figcaption style="text-align: center;">
 BTC/USD three-day price chart. Source: Lark Davis
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The upcoming US Federal Reserve meeting on Nov. 7, where there’s <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-election-fed-rate-cut-5-things-bitcoin-this-week" rel="nofollow noopener" target="_blank" text="null" title="https://cointelegraph.com/news/us-election-fed-rate-cut-5-things-bitcoin-this-week">speculation of a 25-basis-point rate cut</a>, may also boost Bitcoin’s upside potential, even if it means a rally toward Bernstein’s $80,000-90,000 target. 
The convergence of Bitcoin’s historically strong November performance, a possible Fed rate cut, and the pro-crypto narrative surrounding Trump’s candidacy are aligning to create an optimistic outlook for BTC this month.
The price rose 0.25% in the last 24 hours to reach around $68,760 on Nov. 4, but was down 7.35% from its local high $73,600 established a week prior. 
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 <img alt="Bitcoin Price, Bitcoin Analysis, Predictions, Donald Trump, Tech Analysis, Market Analysis, Kamala Harris, US Elections 2024" src="https://s3.cointelegraph.com/uploads/2024-11/0192f86a-057f-724f-91f8-2639f518989a" title="">
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 BTC Futures open interest. Source: Coinglass
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The BTC price decline accompanies a $1.1 billion drop in futures market’s open interest, liquidating roughly <a data-ct-non-breakable="null" href="https://www.coinglass.com/currencies/BTC" rel="nofollow noopener" target="_blank" text="null" title="https://www.coinglass.com/currencies/BTC">$300 million worth of positions</a>, indicating many traders are reducing their exposure ahead of the Nov. 5 election. 
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

3 bold Bitcoin price predictions as the US Election nears finishline

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