{"id":17791,"date":"2024-10-15T16:54:20","date_gmt":"2024-10-15T13:54:20","guid":{"rendered":"https:\/\/forklog.com\/en\/bernstein-links-bitcoin-rally-to-trumps-rising-election-odds\/"},"modified":"2024-10-15T16:54:20","modified_gmt":"2024-10-15T13:54:20","slug":"bernstein-links-bitcoin-rally-to-trumps-rising-election-odds","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bernstein-links-bitcoin-rally-to-trumps-rising-election-odds\/","title":{"rendered":"Bernstein Links Bitcoin Rally to Trump&#8217;s Rising Election Odds"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Bernstein attributes the bullish sentiment to Donald Trump&#8217;s lead over Kamala Harris in the presidential race.<\/li>\n<li>Standard Chartered highlights the potential for Bitcoin to return to its ATH before the US elections.<\/li>\n<\/ul>\n<\/div>\n<p>The surge in Bitcoin&#8217;s price is linked to the increasing chances of Republican candidate Donald Trump securing the presidency, according to Bernstein, as reported by<a href=\"https:\/\/www.theblock.co\/post\/321030\/bitcoin-trump-election-odds-microstrategy\"> The Block<\/a>.<\/p>\n<p>Experts noted a strong correlation between the leading cryptocurrency and the likelihood of the former White House head defeating his Democratic rival, Kamala Harris.<\/p>\n<p>According to Polymarket, the odds of such an outcome have jumped to 56.6%. The last time this figure was so high was at the end of July.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1259.webp\" alt=\"1-1259\" class=\"wp-image-243248\"\/><figcaption class=\"wp-element-caption\">Data:\u00a0<a href=\"https:\/\/polymarket.com\/event\/presidential-election-winner-2024?tid=1721030336057\" target=\"_blank\" rel=\"noreferrer noopener\">Polymarket<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Despite both candidates claiming support for digital assets, the crypto market bets are stronger amid Trump&#8217;s successes in the presidential race,&#8221;<\/em> specialists commented.<\/p>\n<\/blockquote>\n<p>Analysts pointed to a 78% chance of Republicans winning the Senate and a 39% probability of them gaining a majority in both houses of Congress.<\/p>\n<p>In their view, MicroStrategy shares are a leading indicator of a potential &#8220;bullish&#8221; breakthrough. Since the beginning of the year, the Bitcoin company&#8217;s stock has risen by 191%, while digital gold has increased by 55%.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;MicroStrategy capitalized on the lows by issuing shares and convertible debt to replenish reserves in the leading cryptocurrency, and was rewarded for it,&#8221;<\/em> the review stated.<\/p>\n<\/blockquote>\n<p>The company&#8217;s stock price peaked in March this year before entering a multi-month correction phase. Unlike Bitcoin, the quotes have already exited the sideways trend and continue to accelerate, experts explained.<\/p>\n<p>Earlier, Bernstein predicted a rise in the price of digital gold to $80,000-90,000 if Trump wins. A shift from Joe Biden to Harris would lead to a rollback to $40,000, without changing the long-term positive outlook, analysts added.<\/p>\n<h2 class=\"wp-block-heading\">Standard Chartered&#8217;s View<\/h2>\n<p>Standard Chartered<a href=\"https:\/\/www.theblock.co\/post\/321062\/standard-chartered-says-bitcoin-could-revisit-its-all-time-high-before-the-us-election\"> noted<\/a> the potential for Bitcoin to revisit its <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span> before the US elections.<\/p>\n<p>As drivers, specialists cited:<\/p>\n<ul class=\"wp-block-list\">\n<li>the increasing odds of Donald Trump&#8217;s victory;<\/li>\n<li>a significant inflow of funds into spot Bitcoin ETFs;<\/li>\n<li>increased activity in call options.<\/li>\n<\/ul>\n<p>Experts highlighted the steepening of the US Treasury yield curve. In their view, this signals increased market volatility and demand for alternative assets like Bitcoin.<\/p>\n<p>Analysts also noted the potential for MicroStrategy to gain a new revenue stream through lending in the leading cryptocurrency. To date, the company has acquired 252,220 BTC, including 7,420 BTC in September.<\/p>\n<p>MicroStrategy could become a &#8220;Bitcoin bank, with capital market products including common, convertible, preferred shares, and fixed-income instruments.&#8221;<\/p>\n<p>According to Standard Chartered, the digital asset ecosystem is becoming increasingly integrated into <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span>.<\/p>\n<p>Growing legitimacy alongside favorable political events could provide a tailwind for Bitcoin in the coming months. In the scenario of Trump&#8217;s loss, &#8220;the broader trend of cryptocurrency adoption will remain unchanged.&#8221;<\/p>\n<p>Previously, BlackRock CEO Larry Fink expressed confidence in the rising value of digital gold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bernstein attributes the bullish sentiment to Donald Trump&#8217;s lead over Kamala Harris in the presidential race. Standard Chartered highlights the potential for Bitcoin to return to its ATH before the US elections. The surge in Bitcoin&#8217;s price is linked to the increasing chances of Republican candidate Donald Trump securing the presidency, according to Bernstein, as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17790,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1643,1146,842,1347],"class_list":["post-17791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bernstein","tag-cryptocurrency-market-forecasts","tag-politics","tag-standard-chartered-plc"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=17791"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17791\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/17790"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=17791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=17791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=17791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}