especially since Trump supports Bitcoin, which is the first step for us to see Bitcoin reach $100k.
Hahaha, do you think Trump has the power or influence?
Trump-supporting Bitcoin is not an assurance or the first step for Bitcoin to achieve the 100k price. One characteristic of Bitcoin is that it doesn't need political support to be successful. As an investor, I believe that I have come to know the factors that can influence the price which are mass adoption (demand and supply), advancement in technological development, regulatory enforcement, and other economic conditions but political promises/fallacies are not for me. Instead of focusing on political promises, investors should be more concerned about informed decisions, research, risk assessment, and engaging in Bitcoin discussions to improve their knowledge of Bitcoin which will help them with their investment.
Bitcoin will keep increasing in value if there are more people chasing after it and that means more liquidity flowing into the market. With Trump publicly supporting bitcoin it means that some influencal people around the world will start developing interest/confidence in bitcoin and they will try to invest in it. If Trump should win the US election and he keeps his words by making the United States bitcoin friendly for miners and investors and make policies that will favour bitcoin, this will no doubt make bitcoin appreciate more in value, because other nations will want to follow that path. And this will help in wide spread and mass adoption of bitcoin. Even though Trump on his own cannot decide where bitcoin price will be, but his actions will bring more people in and when more people comes into bitcoin investment it will only result to more demand for bitcoin, and when the demand is higher and supply is limited you know what will happen to bitcoin price right? So political events plays certain roles that influences bitcoin prices either upward or downward.