Bitcoin rose by 1900% during Trump's first term, what about this time?
"After the 2016 election, the price of BTC increased by 2747%. After the 2020 election, the price of BTC rose by 360%. In 2024, the president supports Bitcoin. Even a 240% increase would mean each Bitcoin is worth $250,000."
Original Title: “Bitcoin gained 1,900% in Trump's first term: Will BTC price hit $1M this time?”
Author: Yashu Gola, CoinTelegraph
Translator: Deng Tong, Jinse Finance
During Donald Trump's first term as President of the United States (November 2016 to November 2020), BTC surged by over 1,900%. Despite his critical stance on cryptocurrencies at the time, he achieved this feat, famously calling BTC "highly volatile" and claiming its value was "baseless" in a 2019 tweet.
However, given Trump's promise to make America a "Bitcoin superpower" and his implementation of deregulation to promote the cryptocurrency industry, his second term seems likely to be more favorable for the cryptocurrency sector.
Trump announced his victory on November 6, which has already helped push Bitcoin to around $76,400, with top analysts like TYMIO Yield founder Georgii Verbitskii predicting that BTC prices will exceed $100,000 in the coming months.
Will Bitcoin's price exceed $1 million by 2028?
If Bitcoin's price rises by 1,900% from its current level, each Bitcoin would be valued at over $1.5 million.
This would make Bitcoin a $28.5 trillion asset class, nearly eight times the market capitalization of the world's largest company, Nvidia, and 1.6 times the market value of gold.
Clearly, $1 million per Bitcoin is an ambitious target, but renowned analysts in both traditional finance and the cryptocurrency space have been predicting this price for years.
ARK Invest CEO Cathie Wood previously predicted that by 2030, BTC's price would exceed $1 million, noting that major investment banks like Morgan Stanley, Merrill Lynch, and Bank of America might enter the Bitcoin space.
Henry Arslanian, co-founder of Dubai-based Nine Blocks Capital Management, reiterated similar views in a post on X on November 6, pointing out that Trump's victory would lead to "institutional participants further entering" the U.S. crypto industry, from asset management firms to family offices.
Post-election Bitcoin price targets range from $100,000 to $250,000
Most analysts predict that the Bitcoin market will surge significantly following Trump's victory.
According to cryptocurrency research firm 10x Research, by January 2025, BTC's price could rise to $100,000, noting that "when Bitcoin sets a new six-month high for the first time in six months, it typically achieves a median return of 40% in the following three months."
Meanwhile, independent market analyst Mags stated that Bitcoin will approach $250,000 within the next 12 months, citing significant price increases after U.S. elections.
He argued:
"After the 2016 election, BTC's price increased by 2,747%. After the 2020 election, BTC's price rose by 360%. In 2024, the president supports Bitcoin. Even a 240% increase would mean $250,000 per Bitcoin."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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