Bitcoin Could Reach $90K by the End of the Year If Trump Becomes President

If Donald Trump wins the US elections in November, bitcoin (BTC) is expected to reach new highs towards the end of the year, with the cryptocurrency likely to reach $90,000 by the fourth quarter, brokerage firm Bernstein said in a research report published today.

The report stated that if Kamala Harris wins the election, the cryptocurrency could test the $30,000 to $40,000 range.

The broker stressed that Trump is ambitious about making America the “bitcoin and crypto capital of the world” and mentions digital assets in every policy speech he makes.

Trump’s speech at the Bitcoin Nashville conference in July covered a wide range of topics related to digital assets, including making the U.S. the center of bitcoin mining, appointing a crypto-friendly Securities and Exchange Commission (SEC) chairman, creating a national strategic bitcoin stockpile, and establishing a crypto advisory council.

The report noted that Harris did not mention crypto in any of her speeches.

Bernstein noted that the crypto market has faced two major conflicts over the past three years: macro and regulators.

“It is quite difficult to predict the election outcome, but if you are a long-term crypto investor, you are trading Trump,” the report said.