CandleFocus Bitcoin’s Path to $100,000: Predictions, Election Impact, and Halving Effects
2024-11-05
Author: Content Editor
Bitcoin's price has dipped below $69,000, but there are predictions that it could still reach $100,000 soon. However, Mark Yusko, founder of Morgan Creek Capital, suggests that a victory by Kamala Harris in the 2024 presidential election, along with potential stricter regulations by SEC Chair Gary Gensler, could negatively impact Bitcoin's price. Despite this, Yusko remains optimistic in the long term, believing Bitcoin could serve as a hedge against inflation due to U.S. dollar devaluation. He also expects Bitcoin to experience a significant increase soon based on its halving cycle. Between now and mid-December, Bitcoin is anticipated to reach prices between $110,000 and $120,000 due to increasing institutional interest and the bullish holiday season. However, Yusko warns that corrections could be substantial during bearish phases, and Bitcoin's fair value is currently estimated to be between $80,000 and $100,000.
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