Bitcoin

The US brokerage and research company Bernstein stated that if former US President Donald Trump wins the presidential election, Bitcoin may surge to $90,000 by the end of this year. The company's analysts believe that Trump's pro-cryptocurrency stance and regulatory reforms could boost the cryptocurrency market, while a victory by Kamala Harris could lead to Bitcoin dropping below $50,000, possibly testing the range of $30,000 to $40,000.

Bernstein: If Trump wins the election, Bitcoin may soar to $90,000

The brokerage and research company Bernstein stated on Monday that if former US President Donald Trump wins the November US elections, Bitcoin could skyrocket to $90,000 in the fourth quarter. Bernstein's analysts stated:

Election results are still difficult to predict, but if you are a long-term holder of cryptocurrency here, you might be betting on Trump.

In their research report, analysts predict that a victory by Trump would drive Bitcoin to new highs, reaching between $80,000 and $90,000 by the end of the year.

Trump's strong support for making the USA a leader in the cryptocurrency industry and his policy proposals, such as appointing a pro-cryptocurrency chairman of the Securities and Exchange Commission (SEC) to replace Gary Gensler and establishing a national bitcoin reserve, are listed as major catalysts. The report also emphasizes that Trump has consistently stated his goal of making the USA the "world capital of bitcoin and cryptocurrency".

On the other hand, if Vice President Kamala Harris wins the November presidential election, bitcoin could fall below $50,000, possibly testing the $30,000 to $40,000 range, according to Bernstein analysts. The company pointed out that while Harris has not made any statements about cryptocurrency, the industry faces significant regulatory challenges.

Bernstein emphasizes that the crypto market has experienced regulatory barriers in the past three years, including actions against companies like Coinbase and Uniswap. Analysts believe that a positive regulatory environment can stimulate innovation and attract users back to decentralized financial platforms. They also note that Trump is leading in several key swing states, although national opinion poll results remain mixed.