The US presidential election is scheduled for November, with Republican Donald Trump facing Democrat Kamala Harris. Crypto investors are particularly hoping that Trump will win, as he has big plans for the US Bitcoin and crypto industry.
Analysts at asset manager Bernstein are optimistic about the impact of a potential Trump victory on the Bitcoin (BTC) price. According to them, the joy among crypto investors would be immediately visible, with the price expected to rise to as much as $90,000 if Trump wins the most votes.
BTC als ‘Trump Trade’
The Bitcoin price has taken a certain direction in recent months due to developments surrounding Trump in his presidential race. The analysts at Bernstein do not call Bitcoin a ”Trump trade” for nothing
Trump promises to do everything he can to make the United States the world leader in Bitcoin and crypto, so crypto enthusiasts are eager to see him back at the helm.
Trump wants to end Joe Biden’s war on crypto and even wants the United States to become the world leader in Bitcoin and crypto. His most notable promise is to make the giant pile of over 200,000 seized Bitcoins part of the U.S. Treasury.
While Harris may be more open to crypto than her predecessor Biden, it’s hard to compete with Trump’s talk. It’s of course uncertain to what extent Trump will actually walk the talk, but a victory for him would give the Bitcoin price the biggest boost.
According to Bernstein analysts, Bitcoin could still reach $80,000 or $90,000 this year if Trump wins in November. However, they believe that Bitcoin could test the $30,000/$40,000 level if Harris becomes the 47th US president.
The analysts explained that the crypto industry has received “more heat” from Trump. “While crypto industry leaders have been more open to Harris’ campaign and hope for more constructive policies, we expect the difference between the two political outcomes to be stark,” they wrote.
Harris also wants friendlier crypto policy
Harris has not yet spoken out about the crypto sector. Despite her political ties to Biden, who has made a mess of things in recent years, Harris is said to want to support policies that stimulate the growth of the crypto sector.
Brian Nelson, a top adviser to the Harris campaign, recently said that a potential Harris administration would seek clear and stable crypto regulations — a stark contrast to the current policy of favoring a heavy hand over clear guidelines.
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Source: https://newsbit.nl/bernstein-bitcoin-koers-kan-stijgen-naar-90-000-als-trump-weer-president-wordt/
