Bitcoin Is Expected to Surge 165% Thanks to Donald Trump
Shares of Bitcoin have already surged 75% over the course of 2016.
Now, the digital currency could ramp up another 165% over the course of 2017 thanks to Donald Trump’s “spending binge,” Denmark-based Saxo Bank wrote in a report titled “Outrageous Predictions for 2017.” The bank says Bitcoin could hit over $2,100.
Bitcoin is currently trading at $763.80, according to Coinbase.
The bank predicts that Trump’s plan to increase infrastructure spending, alongside further rate hikes from the Federal Reserve, will cause the already surging dollar to “hit the moon.” The strong dollar will force emerging markets to seek an alternative currency.
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