Why Bitcoin Will Hit $100K Despite U.S. Elections—Expert Insight

The intersection of U.S. politics and financial markets has never been more significant, with stocks, commodities, and cryptocurrencies experiencing major shifts. Nevertheless, Bitcoin is forecasted to break the $100,000 mark regardless of who wins the upcoming presidential election, according to prominent industry figures.

While many analysts believe that the election results will shape the future of cryptocurrencies, there is growing consensus that Bitcoin’s value is driven by larger economic forces. Some argue that a Trump victory would accelerate Bitcoin’s rise, while a Harris administration might cause a temporary market downturn.

However, Steven Lubka, Head of Private Clients at Swan Bitcoin, holds a different view. In a recent CNBC interview, Lubka downplayed the role of political factors, emphasizing that macroeconomic conditions are the primary drivers behind Bitcoin’s price. According to Lubka, Bitcoin’s value is more deeply connected to global economic trends than to any specific political situation. Therefore, he remains confident that the price will continue its upward trend, eventually reaching six figures.

Can Bitcoin Surpass $100,000?

Lubka highlights Bitcoin’s long-standing connection to U.S. monetary policy. No matter who assumes office in 2025, he asserts, the broader financial environment will push Bitcoin’s price past the coveted $100,000 mark. While there was initial optimism earlier this year, doubts have emerged about whether this milestone will be reached soon.

Some experts predict that a Democratic victory in the November elections could negatively impact Bitcoin’s growth, as ongoing regulatory pressure from the SEC may continue to stifle innovation. Over the past two years, strict enforcement actions by regulators have cost the industry billions.

Despite this skepticism, a growing number of analysts argue that Bitcoin’s long-term trajectory is not tied to political events. This sentiment is gaining traction as market experts focus on economic fundamentals. Even with Donald Trump’s apparent retreat from discussing Bitcoin publicly since the Bitcoin Conference in Nashville, the cryptocurrency seems well-positioned for future gains.

Limited Political Influence on Bitcoin

Lubka’s argument that macroeconomic forces outweigh political factors was validated this week. Following a heated exchange between Kamala Harris and Donald Trump, Bitcoin’s price remained relatively stable at around $57,000, unaffected by the political turmoil. However, inflation data from August triggered a dip in the price to $55,800, underscoring the significant role of economic reports over political rhetoric.

As of writing, Bitcoin is trading at $58,026, according to CoinMarketCap, showing resilience despite political uncertainties.