Bitcoin May Be Ready to Surge: New Price Prediction

Bitcoin (BTC) is stabilizing today after a short decline recently, now holding at $68,834 (BTC/USD). We could see it climb very quickly as we complete the last leg of US elections.

The US election is going to be held on Tuesday, and in recent months, Bitcoin and cryptocurrency have become hot topics for both political parties. With both Donald Trump and Kamala Harris pledging support for crypto once they are in office, we could see the decentralized finance market do very well over the coming years.

Trump has definitely been the stronger crypto supporter during the campaign, though. If he wins the election, then that would likely cause Bitcoin to surge higher than if Harris were to win.

Bitcoin surged to nearly hit its all-time high and then faltered and fell very recently. That weakness could cause it to have some problems for now, but we believe it could shoot past that to a new record high very soon. The impetus for the surge could very well be the US election results.

What a Bitcoin Surge Might Look Like

The fact that Bitcoin is stabilizing now at its current price point is very promising. It did not fall far below the $70K mark, so we do expect it to climb past that level in the next day or two. The election results could spur a climb to a record high by Wednesday.

If Harris wins the election, the surge may not be as large and could end up just below the all-time high. We do not expect any post-election upswing to last for a long period of time, however. The effects of the election on cryptocurrency will likely not be seen for months down the road, after new laws have been put in place or current laws have been changed.

Cryptocurrency is likely to take a back seat for the new President with a busy docket that would include Middle East fighting, the US economy, border problems, and a host of other issues that they will likely find more pressing.