The ongoing volatility in the cryptocurrency market, driven by factors like election uncertainty and significant psychological price points, has led to widespread debate about bitcoin's path forward.

Roundtable anchor, Rob Nelson, explored these dynamics with futurist and Quant Index founder, Armando Pantoja, in a recent discussion about the market's potential trajectory as bitcoin hovers near key price milestones.

Rob Nelson opened the conversation by highlighting investor hesitation amid electoral tensions, noting, "It's clear there's a lot of money waiting to see what happens in this election." He then asked Pantoja for his perspective on what lies ahead in the market over the coming weeks.

Pantoja pointed to $70,000 as a major psychological threshold, stating, "Anytime we get to a round number that's a multiple of 10, it creates a psychological barrier." He explained that bitcoin will likely encounter significant resistance at $70,000, $80,000, and beyond, due to the human tendency to hesitate around such milestones.

Discussing the election's impact, Pantoja observed, "It's really not about who will get elected; it's more about it just being over and settled." He argued that market participants are waiting for the election outcome, believing that a settled result will prompt a jump in bitcoin's price as uncertainty eases.

That certainly played out Tuesday as bitcoin surged past $72,000.

Pantoja further speculated on the influence of different election outcomes on bitcoin's rise, saying, "If Trump gets elected...we'll go to a hundred thousand rapidly." However, he suggested that under a potential Harris administration, the climb might be slower due to a cautious stance on cryptocurrency.

Ultimately, Pantoja asserted that regardless of the election results, bitcoin’s trajectory appears strong, with both parties likely compelled to embrace cryptocurrency to remain competitive globally.