On Monday, 21 October, bitcoin reached a peak of $69,502 before its bullish momentum stalled. However, according to Bloomberg, options traders are increasingly betting on bitcoin rising to a record $80,000 by the end of November. The market believes this will happen regardless of who wins the US presidential election. Implied volatility for BTC options expiring around the election on 5 November is elevated, with the majority of bets skewed towards call options, which provide the right to buy bitcoin at new all-time highs.

The longer-term forecast is even more striking. Analysts at the research and brokerage firm Bernstein have stated that their projection of $200,000 per BTC by the end of 2025 is "conservative." Bernstein analysts argue that bitcoin's limited supply makes it a "store of value" asset, which is "not a bad thing in a world where US debt is hitting new records (currently at $35 trillion) and inflation risks are only intensifying." "If you like gold, you should love bitcoin even more," the company's analysts add.