Bitcoin (BTC) could hit $90,000 by the end of the year if Donald Trump wins the U.S. presidential election in November, according to a new report from brokerage firm Bernstein. Conversely, if Kamala Harris secures the presidency, the world’s largest cryptocurrency could plunge to as low as $30,000, the report said.
Currently trading around $50,000, Bitcoin could either soar or drop significantly depending on the election outcome. Trump has consistently expressed support for digital assets, repeatedly stating his desire to make the U.S. a global leader in cryptocurrency. At the Bitcoin Nashville conference in July, Trump called for the U.S. to become a major bitcoin mining hub, appoint a crypto-friendly Securities and Exchange Commission (SEC) chair, and establish a national bitcoin stockpile and advisory council.
In contrast, Kamala Harris has not mentioned cryptocurrencies in her policy discussions, according to the report.
Bernstein highlighted two key challenges that have weighed on the crypto market over the past three years: macroeconomic conditions and regulatory pressures. The report’s analysts, led by Gautam Chhugani, suggested that a shift toward positive crypto regulation under Trump could reignite innovation and draw users back to blockchain-based financial products.
“Elections are unpredictable, but those holding crypto investments now may be betting on a Trump victory,” the report concluded.
