Bitcoin Gained 1,900% During Trump’s First Term With BTC Price Eyeing $1M This Time

Bitcoin’s historical price data indicates it could exceed $1 million per coin during Trump’s second term.

Source: blockzeit.com

Bitcoin soared by over 1,900% during Donald Trump’s first term as U.S. president from November 2016 to November 2020, despite his critical stance on cryptocurrency. In a well-known 2019 tweet, he labeled BTC as highly volatile and claimed its value was based on thin air. However, Trump’s second term as president appears set to be more favorable for the cryptocurrency industry, with his pledge to make the U.S. a Bitcoin superpower and to implement deregulation to foster the crypto sector. Trump’s election win, announced on Nov. 6, has already pushed Bitcoin to a new record high of around $76,400, with top analysts predicting BTC will cross $100,000 in the coming months.

Could Bitcoin Reach $1 Million By 2028?

A 1,900% increase from Bitcoin’s current price would value BTC at over $1.5 million per coin, making it a $28.5 trillion asset class. This would position Bitcoin nearly eight times larger than the world’s largest company by market cap and 1.6 times bigger than gold’s total market value. 

While $1 million per Bitcoin may seem ambitious, this target has been predicted for years by prominent analysts across both traditional finance and the cryptocurrency space. Some analysts have forecasted that BTC will surpass $1 million by 2030, noting that major investment banks are likely to enter the Bitcoin market. Additionally, experts suggest that Trump’s win could drive increased institutional involvement in the U.S. crypto sector, with more asset managers and family offices expected to participate.

Bitcoin Price Targets Post Election Range from $100,000 To $250,000

Bitcoin Price Targets Post Election Range from $100,000 to $250,000. Independent market analyst Mags, on the other hand, predicted that Bitcoin could reach $250,000 within the next 12 months, pointing to previous price surges following U.S. elections.

Disclaimer: FameEX makes no representations on the accuracy or suitability of any official statements made by the exchange regarding the data in this area or any related financial advice.