Bernstein Pointed to This Period for the Rise in the Cryptocurrency Market

According to Bernstein researchers, people may start investing in cryptocurrencies due to the influence of Donald Trump.

Bernstein researchers think that if the Republican Party gains power in the US presidential elections, people may invest in cryptocurrencies thanks to the Trump effect.

Bears gained power in the market

“After months of continued euphoria thanks to Bitcoin ETFs, the market is starting to feel bearish,” Bernstein’s team said.

More than $14 billion has entered spot Bitcoin ETFs since they entered the market in January. However, researchers reminded that more than $100 million came out of them for six consecutive days, and about $1 billion in total was lost.

Bernstein researchers said that major private banks have not yet whitelisted Bitcoin ETFs, which could happen in the third or fourth quarter of the year. Until this period, the cryptocurrency market is expected to remain partially horizontal.

Will there be activity in Ethereum?

Bernstein researchers think that spot Ethereum ETFs will not make an impact on the market. The main reason for this is that these ETFs will not have the staking feature.

Bernstein researchers stated that discourses such as the "web3 application store" used for Ethereum are "obsolete".

Despite these, the researchers added that the cryptocurrency market may present new buying opportunities in the near future.