A recent research report from broker Bernstein suggests that if President Trump wins the upcoming election in November, Bitcoin could potentially reach an all-time high of $90,000. This prediction is based on Trump’s vocal support for Bitcoin and cryptocurrency, as well as his stated goal of making the United States the “bitcoin and crypto capital of the world.” The report highlights how Trump has consistently mentioned cryptocurrency in his policy speeches and how a positive regulatory environment could lead to increased innovation in the blockchain space.
What About a Harris Victory?
In contrast, if Democratic candidate Kamala Harris were to win the election, Bernstein predicts that Bitcoin prices could test the $30,000-$40,000 range. While Harris has not been as vocal about cryptocurrency as Trump, her policies could still have a significant impact on the industry. The report suggests that a Biden-Harris administration may lead to a more cautious approach to crypto regulation, which could potentially hinder innovation in the sector.
Overall, the analysts at Bernstein believe that the outcome of the election remains uncertain, but investors who are bullish on Bitcoin may be more inclined to support Trump. As such, if you are a long-term crypto investor, you may want to consider the potential impact of a Trump victory on Bitcoin prices.
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