Bitcoin’s Future Could Depend on U.S. Presidential Election Outcome, Analysts Say
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Analysts at Bernstein Research view Bitcoin as closely tied to the outcome of the upcoming U.S. presidential election, dubbing it a “Trump trade.”
They suggest that if Donald Trump wins, Bitcoin might surge to between $80,000 and $90,000 by the end of the year. Conversely, if Kamala Harris prevails, they foresee Bitcoin dropping below $50,000 and potentially revisiting the $30,000 to $40,000 range.
The analysts, Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia, argue that the crypto industry has received more support from Trump’s camp compared to Harris’s.
While Trump has openly advocated for making the U.S. a leader in Bitcoin and crypto, Harris has not addressed the issue in her public statements.
Recent regulatory actions against major crypto firms have strained the industry, though Bitcoin has managed to rise 112% in the past year despite these challenges. A supportive regulatory environment could enhance institutional interest in digital assets and drive innovation.
Current betting odds show Trump leading Harris, though national polling remains uncertain. Bernstein’s analysts suggest that those invested in crypto may be betting on a Trump victory.
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