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".