What The Election Outcome Means For Bitcoin’s Near-Term Price Action
Bitcoin‘s (CRYPTO: BTC) price direction may shift significantly based on whether Donald Trump or Kamala Harris win the 2024 presidential election.
Experts told Benzinga that the race appears to be split evenly and that market sentiment has already factored in a possible Trump victory, which could see Bitcoin experience a significant rally.
“A Trump win could see Bitcoin rally by $5,000 to $10,000, whereas a Harris victory may see a drop by $10,000 to $20,000,” according to Stuart Connolly, Chief Investment Officer at Deus X Capital.
Connolly also highlighted that Bitcoin’s price trajectory could continue on an upward path, estimating it might reach $150,000 within the next year regardless of the election outcome, given the broader market dynamics at play.
In a note sent to Benzinga, Bitfinex analysts noted that Bitcoin’s current low volatility levels indicate market caution.
This reflects a level of uncertainty as investors await the election results, which may determine near-term market shifts. Bitfinex analysts believe that an increase in volatility would be fitting as election …
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