Analysts at Bernstein, a leading research and brokerage firm, have reiterated their forecast that Bitcoin could soar to new all-time highs in the $80,000 to $90,000 range if Donald Trump secures victory in the upcoming U.S. presidential election. This prediction emerges amid the most significant divergence in election odds favoring Trump since Vice President Kamala Harris accepted the Democratic nomination.
Trump has actively positioned himself as a pro-crypto candidate, advocating for the acceptance of cryptocurrencies for campaign donations and proposing measures to transform the U.S. into a bitcoin mining powerhouse. His plans include appointing a crypto-friendly SEC chair and establishing a national strategic bitcoin reserve. In contrast, Harris has only recently addressed cryptocurrency, expressing broader support for crypto businesses while emphasizing consumer protection and the need for the U.S. to dominate blockchain technology.
Bernstein analysts Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia noted, “A Trump win would be incrementally positive for bitcoin and crypto markets.” They expect Bitcoin to break its previous high of $74,000 in a Trump victory scenario. However, they predict Bitcoin may test lows in the $40,000 range if Harris wins.
The analysts also expect Bitcoin’s price movements to be closely tied to election odds, while altcoins like ETH and SOL are likely to remain range-bound until after the election, pending regulatory clarity.