Bitcoin Could Hit $90K by Year End if Trump Becomes President Again: Bernstein

Should Kamala Harris emerge victorious in the election, experts predict that the leading cryptocurrency may surpass its present support at approximately $50,000 and potentially reach a price range between $30,000 and $40,000. This is according to the report.

The broker pointed out that Trump has repeatedly emphasized his goal for America to become a leading hub in bitcoin and cryptocurrency, and he’s consistently brought up digital assets during all his policy addresses.

Trump’s speech at the Bitcoin Nashville conference in July called for the U.S. to be a bitcoin mining powerhouse, for the appointment of a crypto friendly Securities and Exchange Commission (SEC) chairman, the formation of a national strategic bitcoin stockpile and a crypto advisory council to the President.

Conversely, crypto has not even been mentioned in any of Harris’s speeches, the report noted.

For the last three years, Bernstein has pointed out that the cryptocurrency market has encountered two major challenges – macroeconomic issues and regulatory hurdles.

Following nearly three years of a rigorous regulatory crackdown, a favorable cryptocurrency regulatory framework could stimulate innovation once more and encourage users to transition from traditional banking to financial services offered via blockchain technology, according to analysts headed by Gautam Chhugani.

The upcoming elections are difficult to predict, but if you’re invested in cryptocurrencies, your position seems similar to backing President Trump’s economic policies, according to the report.