America

Bitcoin

Yield

Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="" target="_self" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) soared by over 1,900% during Donald Trump’s first term as United States president between November 2016 and November 2020. This occurred despite his critical stance on the cryptocurrency at the time, highlighted by his <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-bitcoin-u-turn-critic-became-pump-signal" rel="" target="_self" text="null" title="https://cointelegraph.com/news/trump-bitcoin-u-turn-critic-became-pump-signal">well-known 2019 tweet</a> labeling BTC as “highly volatile” and claiming its value was “based on thin air.”
<figure>
 <img alt="Bitcoin gained 1,900% in Trump’s first term: Will BTC price hit $1M this time?" src="https://s3.cointelegraph.com/uploads/2024-11/019301fe-ec75-7df2-addd-bb54f0c73b08" title="">
 <figcaption style="text-align: center;">
 BTC/USD daily price chart. Source: TradingView
 </figcaption>
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However, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/live-countdown-us-elections-2024-crypto-industry" rel="" target="_self" text="null" title="https://cointelegraph.com/news/live-countdown-us-elections-2024-crypto-industry">Trump’s second term</a> as the US president looks poised to be more favorable toward the cryptocurrency industry, given his pledge to make the US a “Bitcoin superpower” and implement deregulation to foster the crypto industry.
<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-election-us-crypto-industry" rel="" target="_self" text="null" title="https://cointelegraph.com/news/trump-election-us-crypto-industry">Trump’s election win</a>, called on Nov. 6, has already helped to push Bitcoin to a new record high of around $76,400, with top analysts like TYMIO Yield founder Georgii Verbitskii predicting <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-100k-us-election-trump-harris" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-100k-us-election-trump-harris">BTC price to cross $100,000</a> in the coming months.
<h2 id="can-bitcoin-price-cross-1-million-by-2028">Can Bitcoin price cross $1 million by 2028?</h2>
A 1,900% increase from today’s Bitcoin price would see BTC valued at over $1.5 million per coin. 
This would make Bitcoin a $28.5 trillion asset class, almost eight times bigger than Nvidia, the world’s largest company by market cap, and 1.6 times larger than gold’s market capitalization.
<figure>
 <img alt="Bitcoin gained 1,900% in Trump’s first term: Will BTC price hit $1M this time?" src="https://s3.cointelegraph.com/uploads/2024-11/01930245-9757-7d68-b600-eee85041ab9d" title="">
 <figcaption style="text-align: center;">
 BTC/USD weekly price chart. Source: TradingView
 </figcaption>
</figure>
Obviously, $1 million per Bitcoin is a lofty target, but for years, this price has been predicted by well-known analysts across the traditional finance and cryptocurrency landscape.
Cathie Wood, CEO of ARK Invest, previously&nbsp;forecasted&nbsp;that the price of BTC <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-bull-cathie-wood-ark-invest-btc-price-target-1m" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-bull-cathie-wood-ark-invest-btc-price-target-1m">will cross $1 million by 2030</a>, noting that major investment banks such as Morgan Stanley, Merryl Lynch, and Bank of America will likely enter the Bitcoin space.
Henry Arslanian, co-founder of Dubai-based Nine Blocks Capital&nbsp;Management, iterated a similar outlook in a Nov. 6 X post, noting that Trump’s win will enable “further entry of institutional players” into the US crypto industry, ranging from asset managers to family offices.
<figure>
 <img alt="Bitcoin gained 1,900% in Trump’s first term: Will BTC price hit $1M this time?" src="https://s3.cointelegraph.com/uploads/2024-11/01930232-fec2-7b22-af52-41a4a0d596f2" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/HenriArslanian/status/1854074288254394408" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/HenriArslanian/status/1854074288254394408">Henri Arslanian</a>
 </figcaption>
</figure>
<h2 id="post-election-bitcoin-price-targets-range-from-100-000-to-250-000">Post-election Bitcoin price targets range from $100,000 to $250,000</h2>
Most analysts have predicted sharp gains in the Bitcoin market after Trump’s election victory.
According to crypto research firm <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-btc-price-target-100000-by-jan-2025-10x-research" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-btc-price-target-100000-by-jan-2025-10x-research">10x Research</a>, BTC price can <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-btc-price-target-100000-by-jan-2025-10x-research" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-btc-price-target-100000-by-jan-2025-10x-research">rise to $100,000 by January 2025</a>, noting that “when Bitcoin sets a new six-month high for the first time in 6 months like it did recently, [it] typically see a median return of 40% over the next 3 months.”
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-200k-end-2025-bernstein-forecast" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-200k-end-2025-bernstein-forecast">Bitcoin forecast to hit $200K by end of 2025: Bernstein Research</a>
Independent market analyst Mags, meanwhile, <a data-ct-non-breakable="null" href="https://x.com/thescalpingpro/status/1854199565370462504" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/thescalpingpro/status/1854199565370462504">said</a> Bitcoin will approach $250,000 in the next 12 months, citing its previous price pumps post-US elections.
<figure>
 <img alt="Bitcoin Analysis, Markets, Donald Trump, Tech Analysis, Market Analysis, US Elections 2024" src="https://s3.cointelegraph.com/uploads/2024-11/0193027b-a878-718b-85c1-996a1af7fb0d" title="">
 <figcaption style="text-align: center;">
 BTC/USD price performance after recent US elections. Source: Mags
 </figcaption>
</figure>
He argued:
<blockquote>
 “In 2016 BTC pumped by 2747% post-election. In 2020 BTC pumped by 360% post-election In 2024, with a pro-Bitcoin president. Even a 240% pump would mean $250,000 per Bitcoin.”
</blockquote>
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.

Bitcoin gained 1,900% in Trump’s first term: Will BTC price hit $1M this time?

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