VanEck Predicts: Trump Returns to the White House in 2024, Bitcoin Soars to $100,000

Several institutions predict that 2024 will be an important year for Bitcoin (BTC), as it will not only experience its halving but also coincide with the U.S. presidential election. VanEck anticipates that Donald Trump will return to the White House next year, which could propel Bitcoin to reach $100,000 by 2024.

BTC Will Scale the Wall of Presidential-Level Concerns

The well-known U.S. asset management company VanEck has released its 2024 cryptocurrency industry predictions report, boldly assuming that besides being bullish on Bitcoin halving cycles, its predictions include Binance losing its leading position, the emergence of blockchain games with millions of daily active players, and DeFi KYC becoming mainstream.

VanEck 2024 Predictions: Bitcoin to hit all-time high next year, blockchain games with millions of daily active users, DeFi KYC

Regarding the price prediction for Bitcoin, the report states:

In the second half of 2024, Bitcoin will scale the wall of presidential-level concerns

• The global proportion of the population voting in legislative and presidential elections will reach a historical high of over 45%, indicating high volatility and significant changes on the horizon
• Trump winning the election
• Optimism about the elimination of the hostile regulatory approach towards the SEC
• Bitcoin's price will reach an all-time high on November 9, 2024, three years after the last peak
• If Bitcoin hits $100,000 by December, Satoshi Nakamoto will be named "Person of the Year" by Time magazine

2024 Will See Biden and Trump's Second Showdown

Although the typical party primaries won't reveal results until March next year, it is widely believed that barring unforeseen events, the 2024 U.S. presidential election will see a second showdown between Biden and Trump. Election day is set for 11/5.

According to the latest poll from Reuters and Ipsos, Trump leads significantly in the Republican nomination, and if he were to face Biden in the presidential election, Trump would lead by a narrow margin of 38% to 36%.

In addition, Trump is one of the few political figures enthusiastic about NFTs. He recently released a new "Mugshot" series of NFTs, where buyers of 47 pieces will have the opportunity to have dinner with Trump and receive a part of the suit he wore when he was arrested in August.

Multiple Institutions Bullish on Bitcoin's 2024 Outlook

Recently, several investment banks and research institutions have expressed optimism about Bitcoin's future trends. Most price predictions for BTC by the end of 2024 are above $100,000, with the expected approval of a Bitcoin spot ETF in January being one of the main reasons for market optimism.

Matrixport predicts BTC will reach $63,140 in April next year and surge to $125,000 by the end of the year.

Standard Chartered Bank forecasts Bitcoin to reach $100,000 by the end of 2024.

Bernstein Report: Bitcoin to rise to $150,000 by 2025.

The SEC is in intensive talks with BlackRock and others, remaining optimistic about the approval deadline of 1/10.