Should Donald Trump be elected President of the United States, the leading cryptocurrency is expected to surpass its ATH and reach $80,000-$90,000, while a Kamala Harris victory could see it fall to $50,000. This forecast was made by Bernstein analysts, as reported by The Block.
If the outcome is favourable for Bitcoin, the asset could approach the stated target by Inauguration Day on January 20, 2025, experts noted.
The company expressed a similar view in September, although a Harris victory was then expected to cause a more significant drop to $30,000-$40,000.
“The Bitcoin genie is out of the bottle, and it is difficult to reverse this process. Our target price for the leading cryptocurrency by the end of 2025 remains at $200,000, regardless of the election outcome,” Bernstein emphasized.
The victory of neither presidential candidate is yet reflected in the price of digital gold. Amidst the leveling odds of the two candidates on Polymarket over the weekend, analysts warned of potential short-term volatility related to who will occupy the Oval Office.
At the time of writing, the prediction platform shows a 60% to 40% ratio in favor of Trump.
“For those suggesting manipulation of Polymarket data in Trump’s favor: over the weekend, there was ample evidence that the market behaves like any public market, and traders are easily spooked by additional poll data,” Bernstein highlighted.
Traders have bet on Bitcoin reaching a new ATH by the end of November and increased volatility following the US elections.
Earlier, Tyr Capital and Bitget Research warned of heightened price fluctuations after the presidential race results are announced. A similar opinion was presented by Standard Chartered.