By the year’s end, the price of the leading cryptocurrency could reach $90,000 if Donald Trump wins the November U.S. presidential election. This conclusion was drawn by Bernstein analysts, reports CoinDesk.
If Kamala Harris succeeds, digital gold is expected to break current lows, potentially testing levels in the $30,000-40,000 range, according to experts.
They noted that Trump has repeatedly expressed support for the industry, promising to make the country the “world capital of Bitcoin and cryptocurrencies.”
The current Vice President, in contrast, has never publicly stated her position on digital assets.
Bernstein emphasized that under the administration of current President Joe Biden, the industry has faced challenges from macroeconomics and regulatory pressure over the past three years. A positive shift in regulatory policy could spur innovation and attract users to DeFi products, analysts believe.
“Elections remain difficult to predict, but if you have a long position in cryptocurrency, you are likely betting on Trump,” they concluded.
In May, Trump began accepting donations in cryptocurrencies for his presidential campaign. Following his participation in the July Bitcoin 2024 conference in Nashville, the donation amount reached $25 million.
In September, it was revealed that Harris is also attracting funding in digital assets for her campaign fund through the Coinbase Commerce platform.
Participants in the crypto industry launched a support group for the Democratic candidate, Crypto for Harris. However, journalists noted her absence from the structure’s online events and questioned Harris’s support for the industry. Her campaign denied these claims.
In July, Bloomberg highlighted that Bitcoin miners and crypto companies largely pin their hopes on Trump’s return to the White House.
Back in July, Bitwise’s Chief Investment Officer Matt Hougan concluded that politicians’ attitudes are irrelevant to the industry. A similar opinion was expressed by former BitMEX CEO Arthur Hayes.