Matt Hougan, Bitwise’s Chief Investment Officer, Bitcoin 
$67,169 He predicted that the price could reach a new all-time record before the US elections. Hougan acknowledged the impact of Kamala Harris’ support on the market as the US approaches the presidential election.
Bitcoin’s Value Increase Expectation
In his weekly note published in recent weeks, Hougan stated that Bitcoin could reach a new ATH before the US elections. At first, he stated that it might take after the election for BTC to rise to $80,000.
Hougan said after BTC rose to $67,000 on Monday, he was unsure whether market participants would have to wait longer to reach those levels. “Many people do not want to be left behind when cryptocurrency rises,” Hougan said.
Similar View of Standard Chartered
Standard Chartered’s Director of Research, Geoff Kendrick, made a similar prediction. Kendrick predicted that Bitcoin could rise to $73,800 before the November 5 US elections. This prediction is based on factors such as increased interest in Spot Bitcoin ETFs and Donald Trump’s lead in the polls.
Kendrick also raised the possibility of BTC rising to $80,000 and stated that there were call options for this target at that time. Previously, Kendrick predicted that Bitcoin could reach $150,000 by the end of the year.
On the other hand, Bitcoin is unlikely to reach a new ATH until January next year, according to QCP Capital’s analysis. QCP Capital noted that the Monday BTC rally follows the crypto’s historical trends. During the 2016 and 2020 election years, the cryptocurrency spiked about three weeks before the elections but reached its new ATH in January. Hougan used the following statements in his statements on the subject:
“There is a lot of ready investment around. “I think it will rise quickly once there is any clarity.”
These developments in the Bitcoin market cause investors to closely follow the performance of cryptos before the election period. While Kamala Harris’ adoption of crypto support has a positive impact on the market, other financial institutions making similar predictions increases the excitement in the sector.
In this process, it is important for investors to be careful, considering the volatile nature of Bitcoin and the impact of political developments. The potential effects of election results on crypto markets could shape future price movements.
Fluctuations in the value of Bitcoin and other cryptocurrencies present both opportunities and risks for investors. Understanding market dynamics and developing the right strategies are vital for a successful investment.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
