The Crypto Market Will Benefit From Trump’s Potential Victory, According to Bernstein

Bernstein analysts predict that if Donald Trump emerges victorious in the US presidential election later this year, the cryptocurrency market could see a significant upswing.

In their report, the analysts suggest that the Trump administration could create a more favorable regulatory environment for crypto, which could attract more institutional investment in the sector.

They point out that the Republican Party views crypto not only as a key demographic for voters, but also as a significant source of funding.

The analysts suggest that if the Republican Party’s outlook improves, cryptocurrencies could become a focal point for investors who expect supportive regulations, thereby increasing the perceived value and use cases for blockchain technology.

Trump is clearly supportive of the crypto industry, distinguishing his position from that of President Joe Biden. This marks a change from his earlier opinion, in which he described digital currencies as extremely risky.

Despite the change in the former US president’s views, some experts remain cautious. A recent report by investment bank TD Cowen recommended that politicians’ promises regarding cryptocurrencies should be taken with scepticism.