Bitcoin has a promising future, says analyst

Bitcoin has a promising future, says analyst

In recent weeks, the Bitcoin market has been in a state of anticipation. Investors are eagerly awaiting key decisions that could affect its price - most notably the US Federal Reserve's interest rate decision, which will be announced next week, and the results of the upcoming US presidential election.

According to Steven Lubka, manager of Swan, a company specializing in Bitcoin savings, all these events have one thing in common: Bitcoin has a clearly marked path to six figures ahead of it. Lubka is not afraid to declare that "Bitcoin will reach six figures no matter who wins the election!"

In an interview with CNBC, Lubka states that there are currently fears circulating that a Kamala Harris victory could drive the price of Bitcoin down. However, he considers this notion to be overblown. "I think by 2025 we'll get to six figures, regardless of who sits in the White House," he says with conviction.

The bitcoin market is currently under pressure from speculation about how the election results could affect the price of the digital currency. Most analysts are predicting that if Donald Trump wins the election, it could lead to an immediate spike in price. Conversely, in the event of a Kamala Harris victory, a more short-term decline is expected. Lubka responds by saying: "If Trump wins in November, will there be an immediate increase? Yes, definitely. If Harris wins, could there be an immediate selling pressure? That certainly wouldn't surprise me. But in the medium term, I don't think the winner of the election will fundamentally affect the dynamics of the BTC price."

Underlying Lubko's belief in Bitcoin's growth is the expectation that the market will also be boosted by spot ETFs. This new investment option should attract more investors and stimulate price growth.

Although his analysis is optimistic, Lubka warns investors to take into account that the development of the cryptocurrency market is unpredictable and can change quickly. Nevertheless, Bitcoin still has the potential to become one of the most interesting investment opportunities for years to come.

*This is not investment advice.