Bitcoin's price is under pressure as the US presidential election between Donald Trump and Kamala Harris approaches. Currently, Bitcoin is trading around $68,000 after failing to surpass its all-time high of $73,700. The cryptocurrency may drop to $63,000 if it doesn't hold above $68,000.
Despite short-term challenges, analysts like Ali Martinez see potential for a price rebound, with past elections showing post-election volatility but overall upward trends for Bitcoin. The TD Sequential indicator suggests a possible upturn, with Bitcoin potentially retesting $73,000 levels.
Miles Deutscher predicts Bitcoin's trajectory towards $100,000, irrespective of the election's victor, but expects a Trump win to elevate prices further, potentially reaching $200,000 to $300,000. Trump's pro-crypto stance may facilitate greater adoption and strategic use of Bitcoin.
Conversely, Kamala Harris's unclear position on digital assets presents potential regulatory shifts post-election. Currently, prediction markets favor Trump, but traditional polls show a close competition.
