{"id":652347,"date":"2024-11-09T23:00:33","date_gmt":"2024-11-09T23:00:33","guid":{"rendered":"https:\/\/uniquehot.com\/?p=652347"},"modified":"2024-11-09T10:00:49","modified_gmt":"2024-11-09T10:00:49","slug":"can-the-donald-trump-win-drive-bitcoin-price-to-170000-this-cycle","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin\/can-the-donald-trump-win-drive-bitcoin-price-to-170000-this-cycle\/","title":{"rendered":"Can The Donald Trump Win Drive Bitcoin Price To $170,000 This Cycle?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The victory of Donald Trump in the US presidential election has been confirmed, leaving cryptocurrency investors speculating about the impact on Bitcoin\u2019s price trajectory in the next four years. Interestingly, the market has <\/span><a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-etfs-see-historic-surge-institutions-go-bullish-on-btc-with-1-38-billion-record-inflows\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">already been given a taste<\/span><\/a><span style=\"font-weight: 400\"> of the possible effects. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/sec-shake-up-robinhood-legal-boss-on-shortlist-for-top-spot-report\/\" target=\"_blank\" rel=\"noopener \">SEC Shake-Up: Robinhood Legal Boss On Shortlist For Top Spot\u2014Report<\/a><\/div>\n<p><span style=\"font-weight: 400\">In fact, the mere news of Trump\u2019s win <\/span><a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-75000-all-time-high-btc-is-overheated-now\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">has pushed the Bitcoin price<\/span><\/a><span style=\"font-weight: 400\"> into uncharted territory. Since the announcement, Bitcoin has surged, reaching a recent peak of $77,239.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to a crypto analyst, the Bitcoin price has always rallied after US elections, but the price surge tends to be even more pronounced after a Trump win.<\/span><\/p>\n<h2><b>Can The Trump Win Continue To Push Bitcoin Price Upwards?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Crypto analyst Tony &#8220;The Bull&#8221; Severino, CMT, recently took to social media platform X <\/span><a href=\"https:\/\/x.com\/tonythebullBTC\/status\/30231139\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">to highlight <\/span><\/a><span style=\"font-weight: 400\">an intriguing historical pattern between Donald Trump\u2019s presidential victories and Bitcoin\u2019s price movements. According to Severino, while Bitcoin has <\/span><a href=\"https:\/\/bitcoinist.com\/us-election-countdown-bitcoin-price-history-suggests-post-election-rally-ahead\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">consistently rallied following US elections<\/span><\/a><span style=\"font-weight: 400\">, the price surge was especially pronounced when <\/span><a href=\"https:\/\/bitcoinist.com\/crypto-war-resolution-trump\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Trump was first elected in 2016.<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400\">Severino backed up his analysis with data from Bitcoin\u2019s November 2016 performance on the two-month candlestick chart. At that time, Bitcoin was trading at approximately $725. After that election, the Bitcoin price went on to create seven consecutive bullish candlesticks following Trump\u2019s win, setting off a remarkable rally that continued into 2017 and laid the foundation for Bitcoin\u2019s ascent to its then-record highs.\u00a0<\/span><\/p>\n<figure style=\"width: 1835px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/4IPq1Wmu\/\" width=\"1835\" height=\"883\"><figcaption class=\"wp-caption-text\">Bitcoin is currrently trading at $76,626. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Now, with Bitcoin currently trading around $76,000 in the wake of Trump\u2019s latest victory, Severino speculates whether the cryptocurrency could replicate this historical pattern. Interestingly, <\/span><a href=\"https:\/\/coinchartist.substack.com\/p\/56-the-trump-trade\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">the analyst believes<\/span><\/a><span style=\"font-weight: 400\"> a repeat of this run could happen with Trump\u2019s win, and Bitcoin could now make its move toward $100,000 per coin.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-652348\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/A_eeb8fc.png?resize=658%2C352\" alt=\"\" width=\"658\" height=\"352\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/A_eeb8fc.png?w=658 658w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/A_eeb8fc.png?w=460 460w\" sizes=\"auto, (max-width: 658px) 100vw, 658px\"><\/p>\n<h2><b>Will Bitcoin Soar To $170,000 This Cycle?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Still in the spirit of a bullish crypto market after Trump&#8217;s win, Tony Severino mentioned the possibility of the Bitcoin price soaring to $170,000 in the coming months. In another technical analysis, Tony<\/span><a href=\"https:\/\/x.com\/tonythebullBTC\/status\/97287628\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\"> highlighted<\/span><\/a><span style=\"font-weight: 400\"> the Bitcoin price action from October 2023 using Elliott Waves.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to this outlook, <\/span><a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-indicator-signals-equilibrium-after-trump-victory-a-clear-path-to-new-highs\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">Bitcoin is about to start a fifth impulse wave<\/span><\/a><span style=\"font-weight: 400\">, which is known to be the third and last bullish wave. With this in mind, the analyst pointed to Bitcoin pushing to reach $170,000 in 2025. &#8220;Are you prepared?&#8221; he asked.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, Bitcoin is trading at $76,450, having established a new all-time high of $77,239 in the past 12 hours. The streak of all-time highs seems like it isn\u2019t stopping anytime soon, as the market continues to reel in bullish momentum.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/xrp-on-fire-analyst-predicts-4-milestone-as-token-rallies-11\/\" target=\"_blank\" rel=\"noopener \">XRP On Fire: Analyst Predicts $4 Milestone As Token Rallies 11%<\/a><\/div>\n<p><span style=\"font-weight: 400\">For now, the early indicators and price sentiment suggest that the Bitcoin price is gearing up for a new wave in light of Trump\u2019s win. This\u00a0 rally could continue on at this pace and shoot up massively when Trump is sworn into office in January 2025.<\/span><\/p>\n<p><em>Featured image from Investopedia, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The victory of Donald Trump in the US presidential election has been confirmed, leaving cryptocurrency investors speculating about the impact on Bitcoin\u2019s price trajectory in the next four years. Interestingly, the market has already been given a taste of the possible effects. Related Reading: SEC Shake-Up: Robinhood Legal Boss On Shortlist For Top Spot\u2014Report In fact, the mere news of Trump\u2019s win has pushed the Bitcoin price into uncharted territory. Since the announcement, Bitcoin has surged, reaching a recent peak of $77,239. According to a crypto analyst, the Bitcoin price has always rallied after US elections, but the price surge tends to be even more pronounced after a Trump win. Can The Trump Win Continue To Push Bitcoin Price Upwards? Crypto analyst Tony &#8220;The Bull&#8221; Severino, CMT, recently took to social media platform X to highlight an intriguing historical pattern between Donald Trump\u2019s presidential victories and Bitcoin\u2019s price movements. According to Severino, while Bitcoin has consistently rallied following US elections, the price surge was especially pronounced when Trump was first elected in 2016. Severino backed up his analysis with data from Bitcoin\u2019s November 2016 performance on the two-month candlestick chart. At that time, Bitcoin was trading at approximately $725. After that election, the Bitcoin price went on to create seven consecutive bullish candlesticks following Trump\u2019s win, setting off a remarkable rally that continued into 2017 and laid the foundation for Bitcoin\u2019s ascent to its then-record highs.\u00a0 Now, with Bitcoin currently trading around $76,000 in the wake of Trump\u2019s latest victory, Severino speculates whether the cryptocurrency could replicate this historical pattern. Interestingly, the analyst believes a repeat of this run could happen with Trump\u2019s win, and Bitcoin could now make its move toward $100,000 per coin. Will Bitcoin Soar To $170,000 This Cycle? Still in the spirit of a bullish crypto market after Trump&#8217;s win, Tony Severino mentioned the possibility of the Bitcoin price soaring to $170,000 in the coming months. In another technical analysis, Tony highlighted the Bitcoin price action from October 2023 using Elliott Waves.\u00a0 According to this outlook, Bitcoin is about to start a fifth impulse wave, which is known to be the third and last bullish wave. With this in mind, the analyst pointed to Bitcoin pushing to reach $170,000 in 2025. &#8220;Are you prepared?&#8221; he asked.\u00a0 At the time of writing, Bitcoin is trading at $76,450, having established a new all-time high of $77,239 in the past 12 hours. The streak of all-time highs seems like it isn\u2019t stopping anytime soon, as the market continues to reel in bullish momentum. Related Reading: XRP On Fire: Analyst Predicts $4 Milestone As Token Rallies 11% For now, the early indicators and price sentiment suggest that the Bitcoin price is gearing up for a new wave in light of Trump\u2019s win. This\u00a0 rally could continue on at this pace and shoot up massively when Trump is sworn into office in January 2025. Featured image from Investopedia, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":652353,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,1119,1558,8480,9076],"class_list":["post-652347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-btc","tag-cryptocurrency","tag-donald-trump","tag-us-presidential-elections"],"acf":[],"yoast_head":"\n<title>Can The Donald Trump Win Drive The Bitcoin Price To $170,000 This Cycle?<\/title>\n<meta name=\"description\" content=\"The victory of Donald Trump in the US presidential election has been confirmed, leaving cryptocurrency investors speculating about the impact on Bitcoin\u2019s\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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