Key Takeaways
- Bitcoin could soar to $90,000 if Trump wins the election.
- Analysts attribute this to Trump's promise of a friendlier regulatory environment.
- Bitcoin has risen 34% year-to-date, trading at $56,539.
Analysts at Bernstein predict that Bitcoin could reach $80,000 to $90,000 by December if Donald Trump wins the 2024 presidential election. This potential 59% surge is attributed to Trump’s increasingly supportive stance on the industry and his promise to create a friendlier regulatory environment.
Bernstein analyst Gautam Chhugani stated:
Crypto is the rare instance where the difference in election outcome could determine the destiny of the industry.
Trump has spoken extensively about crypto policy in recent speeches, including a 45-minute address at the Bitcoin Conference in July. He emphasized that under his leadership, the U.S. would become the
… crypto capital of the planet.
Chhugani also pointed out that current market prices do not yet reflect the potential regulatory shifts that a Trump victory could bring. Easing regulations could encourage financial institutions to embrace decentralized finance and increase the sector’s innovation.
Bitcoin has already seen a 34% rise year-to-date and might be anticipating a Trump victory.
