Bernstein, a company specialized in research and execution of global stock transactions, updated its bitcoin (BTC) price prediction hours before the end of the presidential election in the United States.
In his most recent reportthe firm’s specialists They reiterated that the target price is $200,000regardless of the outcome of the electoral contest that features Donald Trump (Republican) and Kamala Harris (Democrat). “The bitcoin genie has come out of the bottle and it is difficult to reverse this course,” they indicated.
For Bernstein, the price of BTC will be favored by record levels of US debt (already exceeds $35 trillion), monetary expansion and the success of bitcoin-based exchange-traded funds (ETFs).
Under these arguments, the firm’s specialists highlight that BTC has a limited supply of 21 million and for that reason it differs from fiat money, which is constantly devalued by inflation and issuance by central banks.
Regarding ETFs, it is important to explain that due to their operation, the companies that manage them They must keep bitcoin in their treasuries to support their actions. By simple law of supply and demand, if these funds are successful, firms will acquire more BTC in the market. That causes the price of the digital asset to rise.
Regarding the US elections, Bernstein projects that A Trump win could push bitcoin to a new all-time high (ATH) and reach a price of between 80,000 and 90,000 dollars.
As CriptoNoticias has reported, the former US president expressed a position in favor of cryptocurrencies throughout his campaign and assured that If elected there will be friendly regulation to promote the growth of the sector. In addition, he promised to give BTC the status of a strategic reserve of value, speaking in favor of keeping the BTC that the government already has.
Should Kamala Harris win, Bernstein predicts that the price of the digital currency could fall to $50,000starting Tuesday and ending January 20, 2025 (Presidential Inauguration Day). Previously, the analysis firm said that bitcoin could fall to $40,000 if Harris won the election race.
What happens with the current vice president is that despite having expressed a position in favor of assets, her figure is linked to the current president Joe Biden, who maintained During his entire government, Gary Gensler headed the United States Securities and Exchange Commission (SEC).. Under his leadership, the organization had strong regulation against the sector and it is for this reason that the majority of users of digital assets fear this position will continue.
Within hours of voting closing, the price of the digital currency created by Satoshi Nakamoto remains above $68,000. At the time of publication of this note, the price of the asset is $68,827.
Trump loses advantage over Harris
The users Polymarketa cryptocurrency betting platform, consider Trump the winner of the presidential elections in the United States. However, the difference decreased drastically in the last hours and The proportion is 57.6% to 42.2%, in favor of the Republican leader.
Polymarket, which has gained popularity, not only for those who enjoy challenging luck, but because has become a tool to measure sentiment on political issuesmarket and even pop culture.
For Grayscale, a digital asset investment firm, This platform has the potential to be a “source of truth”in a context where there is an increase in cases of fake news and a majority perception among Americans that the media only contributes to political polarization.
