Bitcoin Price Could Replicate 2016 Rally and Surge to $100,000 After Trump Win, Analyst Tony Severino Predicts

The victory of Donald Trump in the US presidential election has been confirmed, leaving cryptocurrency investors speculating about the impact on

Cryptocurrency investors are keeping a close eye on the impact of Donald Trump's victory in the US presidential election on Bitcoin's price trajectory over the next four years.

The victory has already had a taste of the possible effects, with the mere news of Trump's win pushing the Bitcoin price into uncharted territory. Since the announcement, Bitcoin has surged to reach a recent peak of $77,239.

According to a crypto analyst, the Bitcoin price has always rallied after US elections, but the price surge tends to be even more pronounced after a Trump win.

A crypto analyst recently highlighted an intriguing historical pattern between Donald Trump's presidential victories and Bitcoin's price movements. According to the analysis, while Bitcoin has consistently rallied following US elections, the price surge was especially pronounced when Trump was first elected in 2016.

The analysis is backed up by data from Bitcoin's November 2016 performance on the two-month candlestick chart. At that time, Bitcoin was trading at approximately $725. After that election, the Bitcoin price went on to create seven consecutive bullish candlesticks following Trump's win, setting off a remarkable rally that continued into 2017 and laid the foundation for Bitcoin's ascent to its then-record highs.

Now, with Bitcoin currently trading around $76,000 in the wake of Trump's latest victory, the analyst speculates whether the cryptocurrency could replicate this historical pattern. Interestingly, the analysis suggests that a repeat of this run could happen with Trump's win, and Bitcoin could now make its move toward $100,000 per coin.

In another technical analysis, a crypto analyst mentioned the possibility of the Bitcoin price soaring to $170,000 in the coming months. Using Elliott Waves, the analysis highlights the Bitcoin price action from October 2023.

According to this outlook, Bitcoin is about to start a fifth impulse wave, which is known to be the third and last bullish wave. With this in mind, the analyst pointed to Bitcoin pushing to reach $170,000 in 2025. “Are you prepared?” he asked.

At the time of writing, Bitcoin is trading at $76,450, having established a new all-time high of $77,239 in the past 12 hours. The streak of all-time highs seems like it isn't stopping anytime soon, as the market continues to reel in bullish momentum.

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