Less than a day before the polls closed in the United States, crypto analysts continued to offer their two cents on the future of Bitcoin and cryptocurrencies.
For example, many Wall Street analysts say wild BTC market prices will continue after the elections. Other analysts and observers have shared their price predictions based on who will win this Tuesday.
Related Reading
Gautam Chhugani of the Berstein Group projects that Bitcoin can increase to $80,000 or even $90,000 if the Republican Donald Trump wins the election. If Kamala Harris wins the polls, Chhugani expects the BTC price to dip to $50,000.
But Bernstein didn’t stop making Bitcoin predictions immediately after the election; the group remains bullish on Bitcoin in the short term and expects the digital asset to hit $200,000 by 2025.
According to Bernstein analysts, the other key factors driving Bitcoin’s price are the increasing demand for spot BTC ETFs and rising US debts.
Bernstein Adjusts BTC Price Predictions: $50K Under Harris, $80-90K With Trump
Bernstein analysts have adjusted their Bitcoin price estimates based on the potential outcomes of the upcoming U.S. election. If Harris wins, they foresee Bitcoin dropping to around $50,000, while a… pic.twitter.com/Z1zJ21aJ48
— The Wolf Of All Streets (@scottmelker) November 4, 2024
Bernstein’s Bullish Outlook For Bitcoin Next Year
Analysts at Bernstein are betting on Bitcoin and expect its price to reach $200,000 by the end of next year, regardless of the election results. Gautam Chhugani made this bold prediction days before the Americans visited the polls and added that the results would not impact the long-term outlook for the asset.
The analyst’s bullish project on Bitcoin is anchored on several factors. He even likened the asset to a “genie out of the bottle” and said stopping its price trajectory is difficult.
Chhugani identified a few factors that can drive the asset’s price, including increased interest on the BTC ETFs and higher government’s national debt. Last month, Bernstein’s top analyst targeted $100k for Bitcoin but soon revised his projection to reflect changes in market trends.
BTC’s Erratic Price Action Ahead Of Elections
This year’s election battle between Trump and Harris is among the most…
Click Here to Read the Full Original Article at NewsBTC…
