The hottest 'Trump deal' of the year? Analyst: Bitcoin is expected to rise to $90000 by the end of the year!
白云追月素
发表于 2024-9-10 12:54:31
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Bernstein analysts suggest that owning Bitcoin may be the latest option for the 'Trump trade'. The company believes that if the former president returns to the White House next year, it could bring huge profits.
It is understood that the original "Trump transaction" was named after his victory in the 2016 presidential election, and the US stock market, treasury bond bond yields and the US dollar soared at the same time. The Bernstein report states that if Trump wins this year's election, it will lead to a rebound in cryptocurrency, thanks to improved acceptance by more institutions and regulatory environment.
Bernstein analyst Gautam Chhugani stated in his latest report released on Monday that if Donald Trump wins the US election in November, Bitcoin is expected to hit a new high later this year, and by the fourth quarter, the cryptocurrency could soar to $90000.
Based on the current price of Bitcoin at around $57000, this means there is approximately 58% upside potential. Bitcoin reached a peak of slightly less than $74000 in March of this year.
He explained that Trump's recent support for the cryptocurrency industry indicates that the potential Trump administration will be more friendly to digital assets than the Harris administration.
Cryptocurrency is a rare example where different election results may determine the fate of the industry, "the report said.
In recent years, Trump has shown an increasingly clear tendency to support cryptocurrency and has made increasingly optimistic statements about the industry.
In July of this year, Trump gave a speech at the largest annual conference in the cryptocurrency industry, the 2024 Bitcoin Conference, stating that if he could return to the White House, he would list Bitcoin as a strategic reserve asset for the United States. "If Bitcoin is going to land on the moon, I hope the United States will become a trendsetting country. And since then, almost every speech has also talked about cryptocurrency policies.
At the end of August, he posted a video on X to his 90 million fans, stating that he plans to make the United States the "cryptocurrency capital of the earth".
As for why Bitcoin has such great potential to rise if Trump wins the election in November, Chhugani believes that the positive regulatory environment of cryptocurrency has not yet been digested by the market.
He explained, "Due to strong regulatory challenges, decentralized finance has not seen institutions and banks involved in building blockchain based financial products
An active regulatory environment will eliminate policy risks for financial institutions and banks to participate, thereby eliminating obstacles for digital assets to compete with traditional assets for institutional fund flows, "he added.
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