Trump’s Victory Could Spur Bitcoin to $190K, suggests AMBCrypto July 2024 Forecast
Release: 2024/07/30 21:30 Reading: 950
Key Points:
- Analysts predict that politifi tokens could rival DOGE and SHIB as crypto market volatility increases following the U.S. elections.
- A survey indicates that 80% of investors believe Bitcoin will establish $80,000 as support if Trump is re-elected.
The Impact of U.S. Elections on the Crypto Market
The upcoming U.S. elections have become a significant factor influencing the crypto market. A survey conducted among 9,375 investors revealed that 80% expect Bitcoin to solidify $80,000 as its support if Trump is re-elected. This optimism stems from Bitcoin's positive response to Trump's speech at the Bitcoin Conference 2024, where he pledged to make the U.S. "the crypto capital of the world."
The survey also found that 76.6% of investors believe the Republican Party is more likely to support crypto-friendly policies.
Market Anticipations and Challenges
These expectations have boosted Bitcoin HODLing, and analysts like Julien Bittel predict a potential surge in its price to $190,000. However, the decline in addresses with a balance of over 1k BTC suggests some major investors may be skeptical about Trump's crypto support or his chances of winning.
The Federal Reserve is not expected to cut interest rates at its upcoming meeting, but there are strong expectations for a reduction in September.
The Rise of Politifi Tokens
The political discourse surrounding crypto has led to significant gains for politifi tokens. The HARRIS token, with a market cap of nearly $2.9 million, has surged by about 1350% in the last 7 days. Analysts believe that politifi tokens could potentially compete with popular coins like Dogecoin and Shiba Inu.
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