The rise of Bitcoin seems unstoppable as Bernstein predicts the price of Bitcoin will reach $200,000 by 2025, despite the potential market volatility ahead of the upcoming U.S. election.

Bernstein's Bitcoin target of $200,000 faces showdown between Trump and Harris

Analysts at Bernstein, a major global research and investment management firm, reiterated their long-term forecast for bitcoin, expecting the price to reach $200,000 by the end of 2025, regardless of the outcome of Tuesday's U.S. election.

Bernstein's team believes Donald Trump's positive stance on cryptocurrency is starkly different from Kamala Harris's more conservative approach, aligning with the Democratic Party's tighter regulatory policies on digital assets. In a note published on Monday, they wrote:

The bitcoin genie has escaped from the bottle, and it's hard to reverse this process. Our bitcoin price target for the end of 2025 remains $200,000 regardless of the election outcome.

However, analysts describe that there may be short-term changes based on election results. If Trump wins, Bernstein expects the value of bitcoin to rise to $90,000 by January 20, Inauguration Day. Conversely, if Harris wins, bitcoin could drop to around $50,000.

Gautam Chhugani, an analyst at Bernstein, highlighted the volatility over the weekend on Polymarket, a prediction platform where Trump is currently leading Harris. Addressing bias allegations, he stated:

For anyone suggesting that Polymarket's data is manipulated to favor Trump, we believe we had enough evidence over the weekend to suggest that this data behaves like any public market, and traders can easily panic with increasing polling data.

Chhugani also emphasized the bipartisan consensus on the need for regulatory clarity, noting Trump's favorable stance on cryptocurrency policy and Harris's support for cryptocurrency ownership, although with fewer details. He added that mining regulations could play a role in attracting investors, as "mining is expected to thrive," contributing to growth beyond the AI sector.

Bernstein analysts further predict that Wall Street's role in bitcoin will soon surpass that of the anonymous creator Satoshi Nakamoto, as the main holder by the end of 2024. Major asset managers hold significant stakes in bitcoin through exchange-traded funds (ETFs) driving this shift. Bernstein describes this institutional rise as a "turning point," reinforcing the demand for structure from traditional capital markets and propelling bitcoin's growth trajectory.
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