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Bitcoin Price Target Set at $200,000 by 2025, Regardless of Election Outcome – Bernstein

Bitcoin Price Target Set at $200,000 by 2025, Regardless of Election Outcome – Bernstein

CryptodnesCryptodnes2024/11/04 22:00
By:Cryptodnes

Analysts from a leading research firm project Bitcoin could hit $200,000 by the end of 2025, regardless of the U.S. election outcome.

They view Donald Trump as the more crypto-friendly candidate compared to Kamala Harris, who may uphold the Democratic Party’s stringent stance on cryptocurrency.

Key factors driving Bitcoin’s potential growth include U.S. fiscal irresponsibility, high debt levels, and monetary expansion, which boost interest in hard assets. The analysts argue that the success of U.S. spot Bitcoin exchange-traded funds (ETFs) will further enhance this demand.

Recent fluctuations in Polymarket odds suggest short-term volatility linked to the election. Polling shows Trump with a lead over Harris, but national averages indicate a tight race.

READ MORE:
Deutsche Telekom to Launch Bitcoin Mining Project

Should Trump win, Bitcoin might surpass its previous high of nearly $74,000; however, a Harris victory could see it fall to around $50,000 before recovery. Despite recent market corrections due to profit-taking, there is optimism for a year-end rally.

The election’s outcome could also affect Ethereum, with some analysts believing that a Harris win might support its ETF prospects. However, a favorable SEC could benefit all cryptocurrencies.

Bitcoin mining remains a focal point due to its energy production potential and ties to AI needs. Regardless of election results, the industry is expected to thrive, with pro-mining policies likely attracting more investment.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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