With the possible return of Donald Trump to the post of US President, a cryptocurrency community expects significant changes in the regulatory environment for digital assets. Analysts predict that the new administration that Trump can form is much more favorable for cryptocurrencies than current policy. This can raise bitcoin to new maxima.
In July 2024, Donald Trump spoke at a bitcoin conference, where he presented his vision for future cryptocurrencies. In his 45-minute speech, he declared plans to make the US "cryptocus on the planet" and turn the country into a "bitcoin-advice of the world". Since then, he has repeatedly expressed the support of cryptocurrencies in his public speaking.
Trump has also actively supported digital assets, releasing several NFT collections over the last two years. This testifies to his interest in the development of this industry at the global level.
The Bernstein analyst Gautam Chhugani notes that future elections can be crucial for the cryptocurrency industry. According to him, a positive regulatory environment, which is probably formed under the leadership of Trump, has not yet been fully appreciated by the market. This creates considerable potential for bitcoin growth.
According to Chchugani, in the case of Trump's victory in the election, bitcoin can reach new maxima at the end of 2024. Cryptocurrency can be traded in the range of $ 80 000 - $ 90,000 by December, which means an increase of 59% compared to the current level of $ 56,539.
According to the Chugani, the weakening of regulatory pressure will allow financial institutions and banks to be more actively involved in the cryptocurrency market. This will open up new opportunities for institutional investors and remove political risks that have previously held the development of the industry.
Weakening regulations can also stimulate innovations in the cryptocurrency sector and return users to the ecosystem, which will further increase the price of bitcoin.
This year's bitcoin dynamics also confirms the findings of analysts. Since the beginning of 2024, cryptocurrency has already increased by 34%. This can be a sign that the market involves Trump's possible victory in the election.
In addition, analysts predict further increase in the cost of bitcoin in the coming years. According to Bernstein brokerage company, the price of bitcoin can reach $ 200,000 by 2025, $ 500,000 by 2029 and even reach $ 1 million by 2033.
