On October 9, COINOTAG reported that analysts from Bernstein have reaffirmed their assessment regarding the potential impact of the upcoming U.S. election on Bitcoin prices. Should Trump secure victory, forecasts suggest that Bitcoin could surge to an unprecedented high of $80,000 to $90,000. Notably, the shift in support for Trump coincides with Vice President Kamala Harris’s acceptance of the Democratic nomination, marking a significant juncture in U.S. cryptocurrency discourse.
This election cycle, Trump has notably aligned himself with the cryptocurrency sector, advocating for policies that could transform the U.S. into a formidable Bitcoin mining hub. His proposals include the appointment of a cryptocurrency-friendly SEC chairman and the establishment of a national Bitcoin reserve. Conversely, Harris has only recently begun to address cryptocurrency topics, advocating for a consumer-protective regulatory framework and positioning digital assets within her vision of an opportunity economy.
While Bernstein analysts maintain that Bitcoin’s long-term outlook remains robust, driven by factors such as low interest rates and ongoing fiscal challenges, the immediate market response to the election results could be profound.