Bitcoin Could Hit $200,000 Regardless of Election, Says Bernstein

Share This Post

Bitcoin Soars Toward New Highs What’s Driving Demand in 2024

The post Bitcoin Could Hit $200,000 Regardless of Election, Says Bernstein appeared first on Coinpedia Fintech News

Despite the market downturn and bearish sentiment across the cryptocurrency landscape, a wealth management firm has made a bold prediction for Bitcoin (BTC) ahead of the U.S. presidential election.

Bernstein’s Bitcoin Prediction 

Today, on November 4, 2024, Bernstein, one of the largest private wealth management firms, predicted that if Donald Trump wins this election, BTC’s price could rise to $80,000 to $90,000 by Inauguration Day.

Meanwhile, the firm also highlighted that if Kamala Harris wins, BTC’s price could tank to $50,000.

In addition, Bernstein analysts also noted that “Bitcoin remains the most resilient asset within crypto to the election outcome,” regardless of who wins the upcoming U.S. presidential election. This statement by analysts suggests that, unlike traditional assets that can be heavily impacted by election results, Bitcoin’s price and demand may be less affected by political events.

However, this prediction and statement are likely due to the nature of Bitcoin and its rate of adoption by industry giants. Considering these factors, Bernstein further predicted that Bitcoin could reach $200,000 by 2025.

Bitcoin Technical Analysis and Current Price 

At press time, Bitcoin is trading near $68,600 level and has registered a price surge of 1% over the past 24 hours. During the same period, its trading volume jumped by 42%, indicating heightened participation from traders and investors compared to the previous day.

Besides Bernstein’s prediction, expert technical analysis suggests that Bitcoin is at a crucial level and could experience a significant decline if it fails to hold the support level at $67,500. On the four-hour time frame, BTC often experiences buying pressure and an upward rally whenever it approaches this support level.

Source: Trading View

 This time, however, traders and investors are anticipating a similar upside rally in the coming days. Based on recent price action, if BTC rises and closes a daily candle above $70,000, there is a strong possibility it could surge further and reach a new all-time high in the near future.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

ECB official claims Trump’s pro-crypto stance could trigger financial turbulence

A senior European Central Bank (ECB) official said that President Donald Trump’s aggressive push for crypto adoption could fuel financial instability and urged EU policymakers to strengthen

Canary Capital Files for SUI ETF With SEC

Canary Capital, a digital asset management firm, filed an application with the US Securities and Exchange Commission (SEC) on March 17, 2025, to launch an exchange-traded fund (ETF) tracking the SUI

Canary Capital Files for SUI ETF, SUI token Jump by 8%

The post Canary Capital Files for SUI ETF, SUI token Jump by 8% appeared first on Coinpedia Fintech News Canary Capital has officially filed with the US Securities and Exchange Commission (SEC) to

SEC weighs changes to crypto custody rule for investment advisors

The US Securities and Exchange Commission (SEC) is reconsidering a proposed rule imposing stricter custody requirements on investment advisers holding crypto and other assets  Acting SEC Chair Mark

Shiba Inu Gains Momentum: SHIB Price Breaks Above 100-Day Moving Average, What’s Next?

Shiba Inu is gaining momentum as its price breaks above the critical 100-day moving average, a sign that bullish sentiment may be strengthening This breakout marks an important shift in SHIB’s

Bitcoin’s Hashrate Bounces Back: Miners Power Through Revenue Dip

Bitcoin’s hashrate has bounced back impressively after dipping to 752 exahash per second (EH/s) on Feb 25, now climbing to 81965 EH/s, even as earnings took a notable hit in March Earnings Drop,