Bitcoin Votes for Trump
Bitcoin (BTC) has climbed 6.9% this week to $72,482, pulling back slightly after reaching $73,653 on Tuesday. The recent rally has been partly driven by news that Republican presidential candidate Donald Trump has suggested Elon Musk could lead a potential Department of Governmental Efficiency (D.O.G.E.) in his administration, sparking a surge in Dogecoin by 31% to $0.1796.
The month of October, known as "Uptober" in crypto circles, has historically been positive for Bitcoin, which has already gained over 15% this month. Traditionally, BTC has seen gains of 5-6% in November and 10-11% in December, suggesting potential price levels of $83,000-84,000. A Trump victory could further support this trend, potentially pushing BTC to $90,000-100,000 by the close of 2024.
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