Bitcoin Price Estimates Rise: Bernstein Sees $50K for Harris, $80-90K for Trump
The post Bitcoin Price Estimates Rise: Bernstein Sees $50K for Harris, $80-90K for Trump appeared on BitcoinEthereumNews.com.
Bernstein analysts predict Bitcoin will reach $200,000 by the end of 2025, regardless of the US election outcome. The price increase is expected due to rising US debt, monetary challenges, and demand from US-based Bitcoin ETFs. Bernstein analysts have projected a strong outlook for Bitcoin, expecting it to reach $200,000 by the end of 2025, regardless of the result of the US presidential election. According to Gautam Chhugani, Bernstein’s senior analyst for crypto assets, this price is almost “programmed” for Bitcoin and not necessarily determined by the current political situation. Chhugani has noted that the anticipated rise of Bitcoin is rooted in certain financial and economic factors that are beyond politics. According to the analyst, the drivers of the gains include the rising US national debt, the issues with US monetary policy, and the expanding demand for US-based physical Bitcoin ETFs. “The Bitcoin genie is out of the bottle, and it is hard to reverse this course,” he stated, underscoring Bitcoin’s growing momentum. Bernstein’s recent forecast is in line with other financial institutions, like Standard Chartered, which also expects Bitcoin to hit $200,000 by 2025. Geoff Kendrick, the head of digital assets research at Standard Chartered Bank, has also chimed in on this saying that Bitcoin growth will go on regardless of the political climate. Both analysts have also agreed that the increasing interest rate set by the Federal Reserve and the entry of institutional investors will be the key to pushing Bitcoin prices higher. Anticipated Short-Term Volatility Bernstein also noted that the 2025 outlook is still solid but warned of near-term fluctuations due to the election results. Chhugani stated that a victory for Republican candidate Donald Trump could trigger a short-term rally and may surge the price of Bitcoin to $80,000 – $90,000 from its previous all-time high…
Filed under: News - @ November 5, 2024 6:18 am