Key Points
- Bernstein forecasts Bitcoin’s price to reach $50K with a Harris win and $90K if Trump wins the U.S. elections.
- Bitcoin has historically shown positive growth following past elections.
The U.S. elections could significantly impact the short-term price of Bitcoin (BTC).
The latest projections from Bernstein suggest that a Harris win could lead to a BTC price of $50K, while a Trump victory could push it between $80K-$90K.
Factors Influencing BTC’s Election Price Targets
Bernstein cites Harris’s relatively hawkish stance as a reason for the $50K BTC price target. However, if Trump wins, BTC could potentially reach a new all-time high due to his pro-crypto stance.
These predictions are supported by blockchain insights firm Amberdata and asset manager Bitwise, albeit with slightly different targets. Amberdata analysts predict a $6K-$8K price swing depending on the election outcome.
According to a report by Amberdata, major price levels could be $60K with a Kamala win or $75K/$77K with a Trump win. This aligns with recent actions by hedge funds preparing for potential bullish outcomes and possible BTC price volatility.
Bitwise analysts found that based on BTC’s sensitivity to Trump’s odds on Polymarket, BTC could surge 10% if Trump wins or drop nearly 10% if Harris wins.
Long-term Impact of Elections on BTC
While the short-term impact of the U.S. elections on BTC is significant, the long-term impact has historically been positive. Bernstein projects a BTC price of $200K by 2025.
Maria Carola, CEO of crypto exchange StealthEX, noted that after each election, there has been impressive growth. However, she warned that short-term volatility could increase if the election results are contested.
