While Bitcoin broke new records with Trump's victory, analysts predict that BTC will continue its rise.
At this point, JP Morgan also states that the rise in Bitcoin will continue and predicts that gold and Bitcoin will make strong gains during the Trump presidency.
Speaking to The Block, JP Morgan analyst said that a Donald Trump victory is expected to benefit both gold and Bitcoin.
JP Morgan analyst Nikolaos Panigirtzoglou stated that they expect gold and Bitcoin prices to rise with a “depreciation trading” strategy.
“The devaluation strategy, which profits from currency devaluation, often benefits assets such as gold and Bitcoin, which are seen as stable stores of value amid inflationary or expansionary policies.
At this point, we expect this strategy to be strengthened by both geopolitical tensions and an expansionary fiscal policy, resulting in further increases in BTC and gold prices.”
Analysts also noted that the rise in Bitcoin will be supported not only by Trump’s presidency but also by MicroStrategy’s plan to purchase $42 billion worth of BTC.
When asked if JP Morgan had a price target for Bitcoin in 2025, Panigirtzoglou simply told The Block, “We are bullish on Bitcoin in 2025.” However, he did not give a specific price target for BTC.
*This is not investment advice.