Summary
- A new Bernstein report reveals that if Trump gets re-elected, BTC could reach $90,000 by Q4 2024.
- If Kamala wins, BTC is expected to test the $30,000-$40,000 range.
A new Bernstein report released today reveals the price of Bitcoin, according to potential US election results.
According to analysts, the outcome of the US Presidential Election in November could also determine the destiny of the whole crypto industry.
If Trump Is Re-Elected, BTC Could Reach $90,000 in 2024
If the former President of the US, Donald Trump, is re-elected, Bitcoin could reclaim new highs and reach a maximum of $90,000 by the end of the fourth quarter this year, according to Bernstein analysts.
They also noted that if Kamala Harris were to win the US elections, BTC could break the current $50,000 levels and test the $30,000-$40,000 range, a point where the BTC ETFs in the US momentum began.
Analysts Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia wrote in their note to clients today that after attempts have been made to both sides of the political spectrum, it became clear that the crypto industry would get more warmth from Trump.
They noted that while the crypto industry leaders have been more open-minded with the Harris campaign and are hoping for a more constructive policy, they expect the delta between the two political outcomes to be a wide one.
Donald Trump has been extremely vocal regarding his support for Bitcoin and the crypto industry throughout 2024.
BTC Trades Above $55,000
Regarding Bitcoin’s price today, at the moment of writing this article, the coin is trading a little above $55,000. The coin is up by over 1% in the past 24 hours.
This week is filled with important economic and political events that could affect the trajectory of Bitcoin’s price.
Kamala and Trump will have a debate tomorrow, September 10. Also, the current week marks the upcoming US Federal Reserve meeting that will decide on interest rate cuts, another important factor that could potentially affect the price of BTC and the entire crypto market.