Given that Donald Trump campaigned on a promise to create a pro-crypto government, his election as president could have a significant impact on the cryptocurrency industry.

“If central banks start to follow suit, Bitcoin’s goal of $500,000 will not be far away. But considering that Bitcoin may drive the growth of the entire value storage market and the reality that governments are constantly increasing debt and printing money, Bitcoin’s long-term price potential is far more than that. Even reaching $1 million or more is possible.”

Bernstein and Standard Chartered Bank expect Bitcoin price target to reach $200,000 by the end of next year, but first, how long will it take for BTC to break $100,000?

John Reed Stark, former head of the SEC's Office of Internet Enforcement, recently revealed that with Trump's victory in the US presidential election, the SEC's strict regulation of cryptocurrencies may see a turnaround.