The post When Will Bitcoin Price Go Higher? 6 Experts Share Their Views appeared on BitcoinEthereumNews.com.

The price of Bitcoin has surged 10% in the past week and traded above $68,200 today, its highest level since late July. Despite its volatile performance over the past three months, experts suggest that Bitcoin is poised to make significant progress before the end of the year. Here’s what experts say about Bitcoin’s trend and the factors affecting its price: Initially, the upcoming US presidential election was seen as a source of uncertainty for Bitcoin’s price, but the outlook has changed. Alex Thorn, head of research at Galaxy Digital, wrote in a recent note that a victory by both Donald Trump and Kamala Harris would be positive for Bitcoin. “While a Trump victory is extremely likely to be positive for crypto, especially altcoins, we think a Harris administration would be equal to or slightly better than a Biden administration,” Thorn commented. While polls show Harris slightly ahead, the market is reflecting these views, with Trump ahead of Harris on crypto prediction platform Polymarket. Matt Hougan, Bitwise’s chief investment officer, said investors’ hesitancy about the election has given way to FOMO (fear of missing out). “There’s a lot of dust on the sidelines,” he said, and he predicts that any clarity on the election result could send Bitcoin soaring. Hougan believes that any scenario short of a Democratic takeover of the White House and Congress could send Bitcoin above $80,000 by the end of the year. Bitcoin’s recent rally coincided with a trend experts are calling a “flowmageddon,” with nearly $1 billion flowing into spot Bitcoin ETFs in two days. The influx signals a shift in institutional outlook, with more players viewing Bitcoin as a strategic rather than speculative asset, said Alice Liu, director of research at CoinMarketCap. “Large companies and asset managers have begun to integrate Bitcoin into their investment…

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Filed under: News - @ October 18, 2024 11:27 pm