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The leading cryptocurrency Bitcoin has not found the upward catalyst it was looking for. In the short term, investors are waiting for the FED's interest rate decision to be announced next week and the US presidential election results.
Bitcoin Will Reach 6-Digit Figures No Matter Who Wins!
At this point, the general expectation in the market is that the BTC price will rise if Donald Trump wins the election and fall if Kamala Harris wins, while Steven Lubka, the manager of Bitcoin savings company Swan, claimed that Bitcoin will reach six-digit figures by 2025 regardless of who wins.
Speaking to CNBC, Steven Lubka said that despite Bitcoin’s increasing partisan sentiment, he believes the BTC price will grow and rise regardless of the US presidential election results.
“Do I think we're going to be in the six-figure range by 2025? Absolutely. Do I think we're going to be in the six-figure range, no matter who wins? Absolutely.”
Steven Lubka said that some analysts’ concerns that a Kamala Harris presidency would lower the price of Bitcoin are overblown, and that he expects BTC to rise through spot ETFs regardless of the election outcome.
Lubka finally stated that if Trump wins, there could be a sudden price increase, and if Harris wins, there could be a momentary decrease, and said, “If Trump wins in November, will there be an immediate increase? Yes, absolutely. If Harris wins, could there be immediate selling pressure? That would definitely not surprise me. But in the medium term, I don’t think the election winner is a determining dynamic for the BTC price.”
*This is not investment advice.