Bitcoin has fallen below $68,000, posting its sixth consecutive day of declines. According to analysts at Bernstein, Bitcoin is likely to continue its strong rally into 2025 regardless of who wins the US presidential election. However, there may be initial market shocks.
According to a new report from global investment firm Bernstein, Bitcoin could hit a new record of $80,000 to $90,000 in the coming weeks if Trump wins. Conversely, if Democratic candidate Kamala Harris wins, Bitcoin could fall to $50,000.
Either way, Bernstein analysts believe the volatility will be short-lived. “In our view, Bitcoin remains the most resilient cryptocurrency to the election outcome,” they wrote. Analysts still believe Bitcoin could hit $200,000 by the end of 2025, regardless of who becomes president.
Earlier this month, Bernstein analysts said that $200,000 by 2026 was a “conservative” forecast. They explained that Bitcoin ETFs in the United States, approved in January, have been a boom, attracting large inflows from institutional investors and bringing in more than $20 billion since their launch.
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Former President Donald Trump also expressed his support for cryptocurrencies this year, saying he wanted all future Bitcoin to be mined by Americans.
