Trump's Return, Bitcoin to the Moon? Bernstein Predicts $90,000 Price SurgeBernstein analysts believe that if former U.S
Trump's Return, Bitcoin to the Moon? Bernstein Predicts $90,000 Price Surge
Bernstein analysts believe that if former U.S. President Donald Trump wins the 2024 election, Bitcoin will experience a significant surge, soaring to $90,000 by the fourth quarter of this year. This prediction is based on Trump's positive stance towards the cryptocurrency industry and optimistic expectations regarding the potential regulatory environment.
Analyst Gautam Chhugani stated in a recent report that Trump's potential return would positively impact the cryptocurrency market, particularly Bitcoin, which is expected to reach a new all-time high later this year. He noted that after Trumps first election in 2016, the U.S. stock market, bond yields, and the dollar rose simultaneously, a phenomenon known as the "Trump Trade." This time, a potential Trump victory could lead to a similar "Trump Trade" in the cryptocurrency market, driving prices significantly higher.
Chhugani believes that Trump's positive attitude towards cryptocurrencies is the foundation for his prediction. He pointed out that Trump's recent statements and actions indicate his support for cryptocurrencies. In July, he spoke at the 2024 Bitcoin Conference, stating that if he returns to the White House, he would designate Bitcoin as a U.S. strategic reserve asset and commit to making the U.S. the "cryptocurrency capital of the Earth."
Chhugani believes that Trump's regulatory policies would provide a positive boost to the cryptocurrency industry. He argues that the existing regulatory environment restricts institutions and banks from participating in developing blockchain-based financial products. Trump's policies would address these concerns, encouraging more institutional investment in cryptocurrencies and driving up market prices.
Chhugani predicts that Trump's election would result in a roughly 58% increase for Bitcoin, pushing its price from around $57,000 to $90,000. This prediction is based on market optimism surrounding Trump's policies and his support for the cryptocurrency industry.
However, it's important to note that this prediction carries certain risks. Trump's policy changes and the market's reaction to election results could affect Bitcoin's actual performance. Additionally, the cryptocurrency market itself is highly volatile, and its prices can be influenced by various factors, such as market sentiment, regulatory policies, and technological advancements.
Despite this, Chhugani's prediction has garnered market attention and offers investors a different investment perspective. As the U.S. election approaches, the market will remain focused on Trump's policies and their impact on the cryptocurrency industry.
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