Bitcoin Could Hit $90K If Donald Trump Becomes President, Plunge To $30K If It’s Kamala Harris, Bernstein Says

Bitcoin
could
soar
to
$90,000
if
Republican
candidate
Donald
Trump
becomes
US
president
after
November’s
elections,
but
slump
to
$30,000
if
Democrat
Kamala
Harris
is
triumphant,
brokerage
Bernstein
said.

A
Trump
win
would
benefit
the
cryptocurrency
market
via
a
more
favorable
regulatory
environment
that
could
eliminate
risk
barriers
for
financial
institutions,
said
analysts
led
by

Gautam
Chhugani
in
a
Sept.
9
research
note.

That

would
allow
digital
assets
to
compete
more
effectively
with
traditional
assets
for
financial
flows,
and
promote
increased
innovation,
they
said.

NEW:

@BernsteinBuzz
SAYS

$BTC
COULD
HIT
$90K
BY
YEAR
END
IF

@realDonaldTrump
,IS
ELECTED
OR
DROP
TO
AS
LOW
AS
$30K
IF

@KamalaHarris
IS
ELECTED

—
killz
(@KillzzSol)

September
9,
2024

Trump
has
been
vocal
about


making
the
U.S.
the
Bitcoin
capital

of
the
world,
and
says
he’ll
implement
policies
to
make
it
a
Bitcoin
mining
“powerhouse.”
He’s
also
said
he’ll
fire
on
day
one
Securities
and
Exchange
Commission
chair
Gary
Gensler,
who
is
seen
as
hostile
to
the
crypto
industry.

“Elections
remain
hard
to
call,
but
if
you
are
long
crypto
here,
you
are
likely
taking
a
Trump
trade,”
the
analysts
said.
”After
the
last
three
years
of
regulatory
purge,
a
positive
crypto
regulatory
policy
can
spur
innovation
again
and
bring
the
users
back
to
financial
products
on
the
blockchain.”

Harris,
on
the
other
hand,
has
remained
silent
on
the
topic
of
crypto,
while
the
Democratic
party
has
been
seen
as
hostile
towards
it. 

“While
crypto
industry
leaders
have
been
more
open-minded
with
the
Harris
campaign
and
are
hoping
for
a
more
constructive
policy,
we
expect
the
delta
between
the
two
political
outcomes
to
be
wide,”
the
Bernstein
analysts
said.

Should
Trump
prevail
in
November’s
polls,
Bernstein
sees
BTC
climbing
to
between
$80k
and
$90k
by
the
end
of
the
year.
If
Harris
takes
the
White
House,
the
brokerages
predicts
BTC
will
plunge
to
between
$30k
and
$40k.

Bernstein
had
previously
predicted
that
Bitcoin
could
hit

$200,000
by
the
end
of
next
year,
and
$500,000
by
the
end
of
2029.

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