Bernstein analysts have identified key factors that could drive Bitcoin ($BTC ) to $200,000. One of the most important events will be the appointment of new leadership for the US Securities and Exchange Commission (SEC) and the Treasury Department after January 20, 2025, if Donald Trump is re-elected. Among the likely candidates for the post of SEC head are hedge fund manager Scott Bessent and Cantor Fitzgerald CEO Howard Lutnick.
"Scott Bessent enjoys the confidence of the stock market due to his experience in macroeconomic and fiscal policy. At the same time, Lutnick is known as a more active supporter of Bitcoin. Regardless of the choice, we expect the appointed leaders to support the development of the cryptocurrency industry," Bernstein notes.
Strategic reserves and demand from sovereign wealth funds
Another important catalyst, analysts say, is a possible US decision to form a strategic reserve in bitcoins. They emphasize that in the current market cycle, institutional investors, corporations, and individuals play a key role in demand. However, in the future, sovereign wealth funds may take the lead.
"The political situation in the US favors candidates who advocate deregulation of the crypto market and oppose the introduction of central bank digital currencies (CBDC). This could significantly strengthen Bitcoin's position on the global stage," experts believe.
The role of large companies and the prospects of the cryptocurrency market
An additional growth factor could be the active purchase of Bitcoin by large corporations, such as MicroStrategy. According to Bernstein, such steps can accelerate not only the growth of the first cryptocurrency, but also significantly increase the overall capitalization of the crypto market.
Recall that ARK Invest CEO Cathie Wood previously stated that even with conservative forecasts, Bitcoin could reach $650,000 by 2030. At the same time, analysts are confident that the real price could be even higher if all the above growth factors are realized.
Source bits.media