Analysts at JP Morgan believe that Bitcoin’s price will continue to rise for at least another eight weeks, benefiting from a Republican win in the US presidential election. With Bitcoin currently priced at $76,615, they predict that both Bitcoin and gold could benefit from a “debasement trade” as traders hedge against weakening currencies and geopolitical headwinds.
Trump’s policies are expected to be supportive of both Bitcoin and gold into 2025. Furthermore, Trump’s support for digital asset industry and his plan to raise tariffs could ultimately be beneficial for Bitcoin.
