Will Bitcoin reach new highs or crash? A big investment firm, Bernstein, thinks it all depends on who wins the US presidential election in 2024.
Trump: Good News for Bitcoin?
Bernstein says a Trump win would be great for Bitcoin. They predict it could soar to $90,000 by the end of 2024. Why? Because Trump has been a big supporter of crypto, even saying he wants to make the US the “crypto capital of the world.” He’s also criticized the current administration for being too harsh on crypto businesses.
Harris: A Tougher Road for Bitcoin?
On the other hand, a Harris win might be bad news for Bitcoin. Bernstein thinks it could fall to $30,000 to $40,000. While the crypto industry has reached out to both sides, they seem to have more support from Trump’s side.
The Crypto Landscape is Shifting
Things are changing, though. Trump has become a big fan of crypto, even though he used to be skeptical. And Harris’ campaign is now accepting donations in crypto. So, it’s not a sure thing that a Harris win would be bad for Bitcoin.
What’s Next for Bitcoin?
Right now, Bitcoin is trading at around $55,000. Only time will tell if it reaches new highs or crashes. It all depends on who wins the election and how they handle crypto regulation.
