Bitcoin Analyst Predicts Price Surge to $80,000 After Trump's Strategic Reserve Commitment

A Bitcoin analyst has forecasted that the cryptocurrency's price could potentially exceed $80,000 following Donald Trump's commitment to incorporate it into the U.S. strategic reserves.

Source: ekonomimanset.com

In his recent keynote at the Bitcoin 2024 conference in Nashville, Trump pledged to transform the United States into the crypto capital of the world by establishing a national BTC stockpile and making the cryptocurrency a permanent national asset. Trump's electoral promises have spurred optimistic reactions from leading crypto analysts, with some projecting that BTC's price could increase tenfold in the future.

Predict That Bitcoin's Price Could Potentially Surpass $80,000

One of the most ambitious and optimistic forecasts for Bitcoin following Trump's speech comes from independent market analyst Daan de Rover, known as Crypto Rover on X. He predicts that BTC's price could exceed $80,000 if Trump is re-elected in November, especially given Trump’s comments that Bitcoin might eventually surpass gold in market capitalization.

Adding to the bullish sentiment, Republican Senator Cynthia Lummis from Wyoming has proposed legislation to create a US federal reserve of 1 million BTC over the next five years, which would account for nearly 5% of the total 21 million BTC supply. Currently, the US government holds 210,000 BTC, valued at over $14.26 billion. Trump has promised to transfer these holdings to the US Treasury and ensure they are not sold off if he is reelected.

Analysts Project That Bitcoin’s Price Could Reach $100,000

After Trump's speech, Bitcoin experienced a sell off and has since stabilized between $67,500 and $68,000. However, some analysts, such as Dan Crypto Traders and Tanaka, remain optimistic about the cryptocurrency's future, predicting it could hit $100,000. In the long run, I’m very optimistic about BTC reaching $100k and ETH hitting $8-10k, Tanaka commented, attributing this optimism to the increasing presence of large institutional investors drawn by ETF funds. As of July 26, US Bitcoin ETFs managed $17.58 billion in assets, a notable increase from $14.65 billion at the beginning of the month, reflecting growing interest ahead of Trump’s keynote. Additionally, analyst Cryptomist expects Bitcoin to reach $100,000 based on an ascending channel pattern.

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