BernStein’s Latest Report
Bitcoin’s price will still rise substantially in 2025, regardless of who wins the US presidential elections, according to analysts at Bernstein. However, the coin is set to experience shock in the coming few weeks.
In their latest report, Bernstein analysts Sansakar Chindalia, Gautam Chhugani, and Mahika Sapra have said that Bitcoin could see its price rise to $90,000 within the next weeks if Republican presidential candidate Donald Trump wins. Meanwhile, a win by Kamala Harris, the Democratic flagbearer, could pull the digital asset’s price to $50,000, a level it hasn’t touched since February.
Either way, the trio believes that whatever the outcome, it won’t last long. Bernstein views Bitcoin as the most resilient financial instrument and that its uptrend will continue next year. The financial institution made a bold prediction yesterday, claiming that Bitcoin will reach $200,000 by December 2025.
Also read:What’s more, Bernstein said in October that BTC touching $200,000 within the next 12 months was a ‘conservative’ prediction, arguing that the coin’s price could rally beyond the firm’s estimate before 2026.
Bernstein Analysts Reveal the Primary Driver Behind Bitcoin’s Uptrend
Sansakar, Gautam, and Sapra have attributed Bitcoin’s recent success to the spot exchange-traded funds (ETFs) approved by the US Securities and Exchange Commission in January. They argue that the new investment products have allowed institutional investors to pour capital into crypto and build trust among traditional retail investors who previously hesitated to invest in digital assets.
So, why are Bernstein analysts optimistic that Bitcoin will surge after Donald Trump secures victory? The former US President has presented himself as a pro-crypto candidate throughout his campaign, promising to make the United States the World’s hub for crypto and blockchain innovations.
Besides his promises, Trump has been relatively active in crypto, launching several NFT collections in the past few years and an Ethereum-based Decentralized Finance app dubbed World Liberty Financial.
Bitcoin Holds Steady During the US Election Day
Many analysts anticipated high market volatility on the Elections Day. However, Bitcoin is trading within a tight range as of this writing, suggesting uncertainty among market participants. According to data from CoinMarketCap, BTC trades at $68,779.
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