Bernstein analysts have reiterated their prediction that Bitcoin could reach $80,000 to $90,000 if Donald Trump wins the presidential election next month, CoinVoice has learned. While the analysts expect Bitcoin to perform well in the long term regardless of the outcome, they say that if Kamala Harris wins, Bitcoin could test the $40,000 range again.
Trump has repositioned himself as a pro-crypto candidate this year — accepting cryptocurrencies as campaign contributions and outlining policies such as turning the U.S. into a bitcoin mining “powerhouse,” appointing a crypto-friendly SEC chairman and establishing a national strategic bitcoin reserve. Harris, by contrast, had not mentioned cryptocurrencies in any speeches or policy statements until recently, when she made broader comments last month, saying she would encourage cryptocurrency businesses while protecting consumers, that the U.S. should “dominate” in the blockchain space and that digital assets were part of her vision for an “opportunity economy.”
While Bernstein analysts believe that Bitcoin will perform well in the long term regardless of the outcome amid a backdrop of low interest rates, ongoing U.S. fiscal deficits and unprecedented debt levels, the short-term reaction to the election could be substantial. [Original link]
