Bernstein Explained: Bitcoin Price Will Go Here If Trump Is Elected

Bitcoin (BTC) prices are expected to reach new highs this year if Donald Trump wins the US elections in November, and the cryptocurrency could reach as high as $90,000 in the fourth quarter. Broker Bernstein included these estimates in a research report published on Monday.

If Kamala Harris wins the elections, Bitcoin is expected to break the current $50,000 level and test the $30,000-$40,000 range.

Bernstein stated that Trump has been quite outspoken about making America the “bitcoin and crypto capital”. At the Bitcoin Nashville conference held in July, Trump advocated for the US to become a bitcoin mining giant and for a crypto-friendly SEC chairman to be appointed. In contrast, the report emphasized that Harris did not mention cryptocurrencies in her speeches.

Bernstein stated that the crypto market has faced two major macroeconomic and regulatory hurdles in the last three years. A Trump win could spark renewed innovation in the crypto market, along with favorable regulatory policies.