Bernstein Reiterates Bitcoin Could Hit $80,000-$90,000 If Trump Wins Presidency Amid Odds Divergence by Polymarket

Analysts at research and brokerage firm Bernstein reiterated their prediction that bitcoin could hit new all-time highs in the $80,000 to $90,000 range if Donald Trump wins the US election next month. The analysis comes amid the largest odds divergence in favor of the former president since Vice President Kamala Harris accepted the Democratic Party nomination.

This year, Trump has repositioned himself as a pro-cryptocurrency candidate.

By contrast, Harris did not address cryptocurrencies in any of her speeches or policy statements until recently, and last month offered broader comments that she would encourage cryptocurrency business while protecting consumers, that the U.S. should become “blockchain dominant,” and that digital assets are part of her vision for an “opportunity economy.”

While Bernstein analysts believe Bitcoin will do well in the long run regardless of the outcome amid low rates, continued U.S. fiscal deficits, and unprecedented debt levels, the short-term reaction to the election could be material.

“A Trump win would be positive for the bitcoin and cryptocurrency markets,” Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia wrote in a note to clients Wednesday. “In the scenario of a Trump win, we expect bitcoin to hit a new high ($80,000 to $90,000) surpassing its previous high of $74,000. In the event of a Harris victory, in the short term, we believe that it could test a new low in the $40,000 range (previously untested in the recent correction).”

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