The US presidential election is expected to play a major role in deciding the Bitcoin price trajectory over the coming months.
The consensus view is that a Donald Trump victory could trigger the next bull run while a Kamala Harris win could potentially result in a washout. However, the reality could be far more complex.
Meme coins could also see substantial volatility, considering many of them are at crucial S/R levels.
However, Dogecoin and new meme tokens like Pepe Unchained and FreeDum Fighters appear poised to soar in November, regardless of who wins on Tuesday.
Bitcoin Price Target For November If Donald Trump Wins
A Donald Trump victory is expected to be bullish for Bitcoin. The former President has promised to fire SEC Chair Gary Gensler and set up a Strategic Bitcoin Reserve, both of which will make BTC appealing to institutional investors.
$725 billion asset management firm Bernstein projects that Bitcoin price will reach $90,000 in the aftermath of a Trump win.
However, the possibility of a sell-the-news event cannot be ignored. Furthermore, Election Day volatility could trigger panic selling among whales. For example, if Trump initially falls behind, some might rush to dump their BTC holdings—even if he ultimately wins the race.
Consequently, experts are advising swing traders to avoid using leverage on Tuesday.
Furthermore, Donald Trump may not be as bullish for Bitcoin in the long term as many expect. For instance, he has announced his plan to impose massive tariffs on imported goods, deport migrant workers and interfere in the Federal Reserve’s monetary policies, all of which will likely send inflation levels soaring.
The hot inflation figures will force the Fed to pivot back to a hawkish stance, a catastrophic scenario for the crypto market.
However, it does appear that the Bitcoin price will see strong upside growth in the event of a Trump victory and could potentially reach a new all-time high of $80,000 by November end.
Bitcoin Price Target For November If Kamala Harris Wins – Buy The Dip?
A Kamala Harris win is expected to be bearish for crypto prices, with some experts projecting a washout.
As such, the Bitcoin price dipped below the $67k mark late on Monday, which is being attributed to the Democratic Vice President’s comeback on election betting sites, Polymarket and Kalshi.
However, a Harris win could offer an excellent buy-the-dip opportunity. Global liquidity will continue to surge and the Federal Reserve is poised to keep cutting interest rates, which provides an ideal backdrop for a new Bitcoin all-time high, irrespective of a Harris presidency.
For instance, the Bernstein report also highlights that BTC will reach $200,000 in 2025, regardless of who wins on Tuesday.
Nevertheless, gear up for considerable downside volatility in the event of a Harris win. The Bitcoin price could correct to the $60,000 support by the end of November.
Dogecoin, New Meme Coins Poised To Explode
Typically, meme coins show a strong correlation with Bitcoin. However, Dogecoin appears to be breaking out, despite BTC’s bearish stance.
The DOGE price is currently trading at just under $0.17. A sustained close over $0.20 could trigger a push towards a new all-time high for the top meme coin.
Similarly, new meme coins are in high demand. One of the hottest presale tokens of 2024 – Pepe Unchained (PEPU) – is nearing the $25 million milestone in its ICO.
Pepe Unchained’s Layer-2 ecosystem is also nearing its highly anticipated launch. Soon, PEPU holders will benefit from low trading costs, instant transactions and cutting-edge, advanced analytics tools.
Owing to the hype surrounding the new meme coin, prominent crypto investors are eyeing up to 10x returns after its launch.
Similarly, FreeDum Fighters (DUM), a new meme coin, has impressed investors and is nearing the $500k mark in its presale.
PolitiFi coins won’t lose their appeal anytime soon and DUM offers an escape from the ugliness of real-world politics. FreeDum Fighters will simulate the race in an alternate universe between two champions – MAGATRON and KAMACOP 9000 – each with its staking pool.
DUM holders can cast their vote by staking in either pool and also earn a secret airdrop by participating in weekly engagement events.
Owing to its unique value proposition, prominent investors are eying up to 25x returns from DUM.
