Jamie Coutts, the chief crypto analyst at Real Vision, predicts that Bitcoin’s price could reach $110,000. He details the factors triggering the BTC rally and the reasons behind the market recovery. Bitcoin 
$91,753 is on track to reach new all-time highs with a target of $70,000.
Impact of Global Money Supply
Coutts stated on X platform that with the continuous increase in global money supply, Bitcoin’s price could rise to $110,000. He highlighted that the increasing demand for the leading cryptocurrency, combined with its limited supply, points to a price increase when more fiat currency enters the system:
“The increase in global money supply plays a significant role in Bitcoin’s price rise.”
He emphasized the importance of understanding the correlation between Bitcoin’s price and global money supply, stating that it provides insights into when new capital will enter the market and drive prices up.
The Donald Trump Factor
The increased likelihood of Donald Trump winning the US elections is believed to contribute to the Bitcoin price rally. According to Polymarket data, Trump’s chances of winning stand at 60.3%. His support for cryptocurrencies positively influences BTC’s market perception. Crypto Rover commented on the significant demand for Bitcoin, noting the drop in exchange reserves to a six-year low.
Matrixport stated that a year-end target of $70,000 for Bitcoin could be very conservative if Trump wins. The firm suggested that Trump’s previous administration’s policies supported BTC and a similar situation could occur again.
QCP Capital expressed that BTC is on track to reach new all-time highs, while historical election cycles predict that a new ATH may not arrive until January.
The reduction in BTC supply and increase in demand play a crucial role in its price rise. Furthermore, Trump’s support for cryptocurrencies strengthens the market’s positive sentiment.
BTC users are encouraged to closely monitor market movements and changes in global money supply.
