- Impact of Trump's Victory on Cryptocurrency Market
- Impact of Harris's Victory on Cryptocurrency Market
- Analysts' Predictions
Expectations in the cryptocurrency market heavily depend on the outcome of the upcoming US presidential elections. Analysts at brokerage Bernstein have made predictions regarding the future value of Bitcoin depending on whether Donald Trump or Kamala Harris wins.
Impact of Trump's Victory on Cryptocurrency Market
Analysts predict that a Trump victory would positively impact the cryptocurrency market due to a more favorable regulatory environment. This could remove risky barriers for financial institutions, allowing digital assets to compete more effectively with traditional assets for financial flows. "If you're long crypto here, you are likely taking a Trump trade," the analysts note.
Impact of Harris's Victory on Cryptocurrency Market
On the other hand, a Harris victory could negatively impact the cryptocurrency market. The Democratic party, in general, remains skeptical towards cryptocurrencies, and Harris has yet to voice her position on the issue. Therefore, it is projected that if Harris wins, Bitcoin's value could drop to $30,000 - $40,000.
Analysts' Predictions
If Trump wins, Bernstein analysts expect Bitcoin to rise to $80,000 - $90,000 by the end of the year. They previously predicted that Bitcoin could reach $200,000 by the end of next year and $500,000 by 2029.
The analysts' forecasts indicate a significant impact of the upcoming elections on the cryptocurrency market. A Trump victory could lead to a rise in Bitcoin's value, while a Harris victory might cause it to fall.
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