Bitcoin could drop to $30,000 if Kamala Harris wins
In a vivid outline regarding the forthcoming electoral showdown for the U.S. presidency and its ramifications for the cryptocurrency arena, Bernstein’s specialists have projected a scenario where Bitcoin might hover between the $30,000 and $40,000 threshold should Vice-President Kamala Harris clinch victory.
This anticipation starkly contrasts with their optimistic forecast for a scenario where Donald Trump secures a win.
The analysis highlights that the Trump campaign has extended a more welcoming hand to the cryptocurrency world, adopting a stance that strongly favors the sector.
The discussion infers that a triumph by Harris could perpetuate the stringent regulatory milieu that the cryptocurrency domain has grappled with of late.
The cryptocurrency market has endured under a notably stringent regulatory climate, and regulatory endeavors have diminished the crypto community's faith and nudged them towards a divide based on party lines.
In contrast, a victory for Trump could potentially catapult Bitcoin to unprecedented levels, with Bernstein estimating a surge to the $80K-90K bracket in the year's final quarter if such an outcome unfolds.
The analysts assert that the market has yet to factor in the optimistic prospects of a crypto-supportive election result and a congenial regulatory framework.
Furthermore, the report delves into the larger implications for the cryptocurrency sphere, suggesting that a landscape with more lenient regulation could stimulate innovation and draw institutional investors back to blockchain-centric financial offerings.
The consultancy has consistently maintained that a Trump triumph spells promising tidings for Bitcoin, citing the cryptocurrency's declining value last month as Harris seemed to gain the upper hand over the Republican contender in opinion polls.
