Matrixport: US elections will not affect the value of bitcoin

Analysts at Matrixport have published a forecast for the future of the flagship cryptocurrency after the US presidential election results.

According to the experts, bitcoin will continue to grow regardless of the outcome of the US voting. Matrixport recalled that BTC experienced a strong rally when the US president was a representative of the Republican Party and the Democratic Party.

When Donald Trump was the head of state from 2016 to 2020, bitcoin showed an increase of 1421%. During Joe Biden’s presidency, from 2020 to 2024, the price of the first cryptocurrency increased by 313%: «Bitcoin can continue to thrive — regardless of who wins the November 2024 presidential election and occupies the White House.»

The next president of the United States is likely to have a greater impact on the regulation of the cryptocurrency market in the country than on the price of bitcoin itself, analysts say.

Earlier, Bernstein experts said that the flagship crypto asset would resume bullish growth in the near future. Cryptocurrency experts have announced a target price of $ 150,000 by the end of 2025. Analysts Gautam Chhugani and Mahika Sapra believe that the flow of funds into bitcoin ETFs has slowed down due to hype and excitement around this event.