Experts at VanEck, an investment firm, have made an intriguing prediction for Bitcoin’s price in 2024. They suggest that if Donald Trump secures another term as US President, the value of Bitcoin could skyrocket to new heights. The firm has stated this as one of their 15 forecasts for the crypto market in the coming years.
Matthew Sigel, the head of digital asset research at VanEck, and Patrick Bush, a senior digital asset investment analyst, believe that Trump will win the presidency with 290 electoral college votes, boosting the sentiment among traders. They anticipate that Trump’s re-election will lead to a shift in the US Securities and Exchange Commission’s approach to regulating cryptocurrencies, making it less hostile. This change in regulatory stance could drive up the price of Bitcoin.
Another factor that could contribute to Bitcoin’s bullish rally is the upcoming halving event. These factors combined could potentially push Bitcoin’s price to an astonishing $100,000 if Trump emerges victorious in the 2024 election.
This forecast aligns with recent CNN polls, which suggest that Trump has an advantage over Joe Biden in critical states like Michigan and Georgia. A significant number of voters in those states hold unfavorable views towards Biden’s policies and performance, giving Trump an edge.