Bernstein, a research and brokerage firm, has upgraded its Bitcoin price forecast in anticipation of a potential triumph for the US Vice President, Kamala Harris. Previously, experts suggested that a victory for Harris might cause Bitcoin to experience a new low in the $40 range. However, a recent prediction suggested that the leading cryptocurrency might reach $50. This information was disseminated by The Block.
According to the report, irrespective of the US election’s outcome, Bernstein analysts project a Bitcoin price of $200,000 by the end of next year. The election is slated for tomorrow, November 5th.
“The Bitcoin genie is out of the bottle, and it’s difficult to change its course. Regardless of the election results, our Bitcoin price target for the end of 2025 remains $200,000,” the publication quoted.
Bernstein analysts have reiterated their prediction that if the former US president and current candidate, Donald Trump, wins the presidency, Bitcoin’s price could scale new all-time highs. They estimate that a Trump victory could push Bitcoin’s price between $80,000 and $90,000.
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According to the report, neither candidate’s victory is priced in. The forecast suggests that Bitcoin will surpass all-time highs of nearly $74,000, reaching $80,000 to $90,000 following Trump’s victory and leading up to his inauguration as US president on January 20. However, if Harris emerges victorious, Bitcoin’s price could descend to $50,000, an increase from the previously forecasted $30,000 to $40,000 in such a scenario.
Bitcoin Today 04/11/2024: Amid election volatility, BTC trades above $68
As of 04/11/2024, Bitcoin is making a slight recovery, trading above $68 amid fluctuations ahead of the imminent US elections. Crypto traders should brace for heightened BTC price volatility as the US presidential election scheduled for November 5 might trigger price fluctuations for the digital asset. The expected volatility could match the dramatic shifts witnessed earlier in August.
Bitcoin has once again retreated to the $68 zone in a bearish move and is presently being traded in this range. On today’s date, November 4, Bitcoin had a bullish peak of $69,317, but could not maintain it and fell back to its current range.
At the time of publishing, the price of Bitcoin was quoted at US$ 68,738.45, an increase of 0.5% in the past 24 hours, equivalent to approximately R$ 403,700.83 BRL and € 63,073.83 EUR.
Disclaimer:
The views and opinions expressed by the author or any individuals mentioned in this article are solely for informational purposes and do not constitute financial, investment, or other advice. Cryptocurrency investing or trading carries a risk of financial loss.
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Bitcoin (BTC)
Donald Trump
Kamala Harris