Bitcoin To Hit $90,000 If Trump Wins: Bernstein Analysts

by

As a seasoned researcher with a keen interest in finance and technology, I find myself intrigued by the ongoing analysis of the US presidential election’s potential impact on Bitcoin. Having followed market trends for over two decades, I must admit that the interplay between politics and cryptocurrency is an exciting field to explore.

Experts are closely monitoring the upcoming U.S. presidential election and focusing on how it might affect Bitcoin. According to recent analysis by Bernstein, Bitcoin’s future could take different paths depending on whether Donald Trump or Kamala Harris wins the election.

If Trump wins, it’s predicted that Bitcoin’s value could climb to between $80,000 and $90,000 by the end of 2024. Conversely, if Harris wins, there might be a drop in Bitcoin’s value to around $40,000 due to anticipated regulatory hurdles.

As an analyst, I’m sharing insights from Bernstein’s perspective: The immediate price fluctuations of Bitcoin seem to be strongly linked with the outcome of the upcoming US election. Should Trump secure victory in November, we anticipate a potential new high for Bitcoin, ranging between $80,000 and $90,000. However, if Harris takes office instead, Bitcoin prices might retract back to certain levels.

— Wu Blockchain (@WuBlockchain) October 9, 2024

Bernstein Analysts Weigh In On Trump Victory

Experts at Bernstein, specifically Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia, suggest that a Trump presidency could potentially bring more advantages for the Bitcoin sector. Trump’s expressed interest in digital assets has positioned him as a pro-cryptocurrency candidate, advocating for lighter regulations and even considering a national Bitcoin reserve. This stance has sparked optimism among investors who believe they may encounter less stringent oversight if he wins the election.

Bitcoin To Hit $90,000 If Trump Wins: Bernstein Analysts

Instead, it can be said that Harris has chosen a more cautious approach towards cryptocurrency compared to others. While she encourages business innovation, her policies might not provide as much incentive as those of Trump. Bernstein predicts that under Harris’s administration, Bitcoin could experience significant decline, potentially dropping its price to around $40,000 or less.

Broader Market Consequences

These predictions for Bitcoin’s price hold significant implications beyond just Bitcoin. Analysts at Standard Chartered posit that if Trump is re-elected, Bitcoin might soar to a staggering $125,000; conversely, if Harris becomes president, they anticipate the price of Bitcoin to hover around $75,000.

Bitcoin To Hit $90,000 If Trump Wins: Bernstein Analysts

According to Bernstein’s perspective, Bitcoin is expected to maintain a generally favorable trend, regardless of whether it wins or loses, due to the influential factors such as low interest rates and high debt levels. Similarly, Ethereum and Solana are anticipated to remain steady during the post-election period. However, Bernstein emphasizes that the direction of these cryptocurrencies will not be clearly defined until there is a decision on who will occupy regulatory positions within the new administration.

On Election Outcomes And Market Sentiment

As the election approaches, there’s a growing belief among investors that Trump might win. Currently, prediction markets like Polymarket suggest Trump has an approximately 9% advantage over Harris. This trend is likely to have a favorable impact on Bitcoin’s price, as analysts predict that a Trump victory would generally boost its value.

Upcoming elections could be a crucial turning point for Bitcoin and similar digital currencies, as per Bernstein’s evaluation. His research suggests that the market might experience significant fluctuations depending on the political decisions made.

With Trump advocating for a friendly regulatory climate and Harris taking a cautious stance, investors are gearing up for potential large changes in bitcoin prices as November approaches. Regardless of who wins, experts and investors agree that the political landscape will have a major impact on the future of digital currencies within the U.S.

Read More

2024-10-10 21:12