Bitcoin (BTC) 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 hiswell-known 2019 tweetlabeling BTC as “highly volatile” and claiming its value was “based on thin air.”
However,Trump’s second termas 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.Trump’s election win, 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 predictingBTC price to cross $100,000in the coming months.
Can Bitcoin price cross $1 million by 2028?
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.
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 forecasted that the price of BTCwill cross $1 million by 2030, 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 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.
Post-election Bitcoin price targets range from $100,000 to $250,000
Most analysts have predicted sharp gains in the Bitcoin market after Trump’s election victory.
According to crypto research firm10x Research, BTC price canrise to $100,000 by January 2025, 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.”
Independent market analyst Mags, meanwhile,saidBitcoin will approach $250,000 in the next 12 months, citing its previous price pumps post-US elections.
He argued:
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 surged 1900 during Trumps first term Will BTC reach 1M now