Bernstein: If Trump is elected, BTC may rise to $90,000 by the end of the year; if Harris is elected, it may drop below $50,000

2024-09-09 17:05:15

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ChainCatcher news, Bernstein's latest research report predicts that if Donald Trump wins the U.S. election in November, Bitcoin (BTC) is expected to reach new highs later this year, potentially hitting $90,000 in the fourth quarter.

The report points out that Trump has been actively stating his intention to make the U.S. the "Bitcoin and cryptocurrency capital," mentioning digital assets in every policy speech.

In contrast, if Kamala Harris wins the election, Bitcoin could fall below the current support level of $50,000 and may test the range of $30,000 to $40,000.

Analyst Gautam Chhugani stated that the crypto market has faced two major obstacles in the past three years: macroeconomic conditions and regulation. "After three years of regulatory cleanup, positive crypto regulatory policies can stimulate innovation again and bring users back to financial products on the blockchain." He added, "The election outcome is hard to predict, but if you are bullish on cryptocurrency now, you are likely betting on Trump's victory."

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