The post Bitcoin ATH Run Spurs Bernstein’s Call To “Buy Everything” In Trump-Fueled Rally appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) has been on an all-time-high (ATH) run following the election victory of the Republican US presidential candidate Donald Trump.  Add Crypto Exposure At The Earliest, Bernstein Tells Clients Despite Bitcoin’s strong gains after the election, analysts at trading firm Bernstein remain confident that the broader crypto market still has substantial room for growth. In a client note published on November 11, analysts at trading firm Bernstein have urged clients to add digital assets exposure “as soon as possible.” The digital assets team at Bernstein, led by Gautam Chhugani, endorsed the crypto market’s prospects, stating, “Don’t fight this. Welcome to the crypto bull market – buy everything you can.” The timing of Bernstein’s bullish recommendation aligns with a 20% surge in the overall crypto market cap since Trump’s victory, from roughly $2.41 trillion to $2.92 trillion at the time of writing. Alluding to Trump’s pro-crypto stance, Chhugani urged crypto-skeptic investors not to shy away from digital assets due to regulatory concerns. He encouraged clients to “invert their mental modal” in light of Trump’s resounding win. To recall, Trump has repeatedly emphasized that he will dismiss the current US Securities and Exchange Commission (SEC) chair Gary Gensler soon after he assumes the US president’s office. For the uninitiated, Gensler has been a controversial figure in the crypto industry due to the financial regulator’s perceived hostile approach toward the crypto industry.  Replacing Gensler with a pro-crypto SEC chair could open the door for more favorable regulations for crypto businesses in the US.  Reports suggest that Trump might nominate seasoned Wall Street lawyer Richard Farley as the new SEC chair, though this has yet to be confirmed. It is worth noting that besides Trump, other Republican party leaders, including the new US Vice President JD Vance, RFK Jr., and Vivek Ramaswamy, have…

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Filed under: News - @ November 12, 2024 7:27 am