Traders see Bitcoin hitting $85,000, but is the election really that key?

Bitcoin's potential price movement ahead of the upcoming election was the central topic of discussion, with experts offering differing views on when capital

A roundtable discussion centered on Bitcoin's potential price movements ahead of the upcoming election, with experts sharing their perspectives on the timing of capital flow into the cryptocurrency.

Moderated by Rob Nelson, the conversation featured David Gokhshtein, founder of Gokhshtein Media, and Samuel Armes, CEO of Cardone Digital Ventures. They analyzed the timing and key factors that could drive the next significant surge in Bitcoin's price.

Gokhshtein shared his insights, stating, "I think people get too stuck in their charts… I'm looking at the pulse of the community." He highlighted that while traders tend to focus on short-term technical indicators, the broader market sentiment, particularly on platforms like LunarCrush, indicates money is flowing into Bitcoin. Gokhshtein expressed confidence, predicting, "By the end of quarter four (Q4), we will definitely hit $85,000."

Nelson steered the discussion toward the potential impact of the U.S. election on Bitcoin. He acknowledged that despite his bullish outlook, many investors may hold off on deploying capital until after the election. "A lot of capital on the sidelines is ready to deploy," Nelson observed, seeking insights from Armes on the timing of these investments.

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Samuel Armes concurred, noting that high-net-worth individuals were adopting a wait-and-see approach. "People are literally just waiting and seeing," he said. However, he emphasized that in the long term, the election's outcome would have minimal impact on Bitcoin.

"We all know long-term, even the presidential election doesn’t matter that much," Armes concluded.

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