According to PANews, a new report from Bernstein Research suggests that the cryptocurrency market, especially Bitcoin, may undergo a major shift depending on the results of the upcoming US presidential election.
Analysis suggests that a potential victory for Donald Trump could catalyze a bottom in the price of Bitcoin, leading to a rally in the price of the primary cryptocurrency.
“We believe that Bitcoin prices will bottom only if crypto markets gain interest in a possible Trump win, as crypto markets continue to interpret a Republican victory as positive for crypto policy,” the report states.
The insight comes as cryptocurrency prices remain range-bound, which Bernstein attributes to uncertainty surrounding the U.S. election.
