Donald Trump’s victory in the US presidential election has been confirmed, leaving cryptocurrency investors speculating on the impact on Bitcoin’s price trajectory over the next four years. Interestingly, the market does already tasted possible effects.

In fact, the very news of Trump’s victory raised the price of Bitcoin to uncharted territory. Since the announcement, Bitcoin’s price has surged, reaching a recent high of $77,239.

According to a cryptocurrency analyst, the price of Bitcoin has always increased after the US elections, but the price augment is even more pronounced after Trump’s victory.

Can a Trump win continue to push the price of Bitcoin higher?

Crypto analyst Tony “The Bull” Severino, CMT, recently took on social media platform X to underline an intriguing historical pattern between Donald Trump’s presidential victories and Bitcoin price movements. According to Severino, while Bitcoin does it increased steadily after the US electionsthe price augment was especially pronounced when Trump was first elected in 2016.

Severino supported his analysis with data from Bitcoin quotes in November 2016 on a two-month candlestick chart. At that time, the price of Bitcoin was around $725. Following this election, Bitcoin’s price formed seven consecutive bullish candlesticks following Trump’s victory, starting a remarkable rally that lasted into 2017 and laid the foundation for Bitcoin’s rise to its then-record highs.

Now, with Bitcoin currently trading around $76,000 following Trump’s latest victory, Severino speculates whether the cryptocurrency could replicate this historic pattern. Interestingly, – says the analyst a repeat of this streak could occur after Trump’s victory, and Bitcoin could now approach $100,000 per coin.

Will Bitcoin Rise to $170,000 This Cycle?

Still in the spirit of the bullish cryptocurrency market following Trump’s victory, Tony Severino raised the possibility of Bitcoin’s price surging to $170,000 in the coming months. In another technical analysis, Tony highlighted October 2023 Bitcoin price action using Elliott Waves.

According to this view, Bitcoin will soon enter its fifth impulse wavewhich is known to be the third and last wave of increases. With this in mind, the analyst indicated that Bitcoin will reach $170,000 in 2025. “Are you prepared?” he asked.

At the time of writing, Bitcoin is trading at $76,450, setting a up-to-date all-time high of $77,239 in the last 12 hours. The streak of all-time highs doesn’t seem to be ending anytime soon as the market continues to show bullish momentum.

For now, early indicators and price sentiment suggest that the Bitcoin price is preparing for a up-to-date wave in lithe of Trump’s victory. This rally could continue at this pace and grow exponentially when Trump is sworn into office in January 2025.

Featured image from Investopedia, chart from TradingView