KEY POINTS
- Analysts believe $BTC prices can spike to $90,000 in the lead-up to inauguration if Trump wins
- They said Bitcoin can plunge to $50,000 if Harris wins, then start to recover after inauguration
- They are still positive that the digital currency can skyrocket to $200,000 by the end of 2025 no matter who wins
Bitcoin will continue its road to the moon regardless of how the presidential elections on Tuesday turn out, analysts at research and brokerage firm Bernstein said, but they also believe prices will have a short-term spike if Donald Trump wins.
The world's largest cryptocurrency by market value declined in the lead-up to election day, from nearly hitting its all-time high at over $73,000 to around $68,000 late Monday.
$BTC Can Pump Under Trump
Bernstein analysts previously projected that a Trump victory can drive BTC prices to new all-time highs, particularly between $80,000 and $90,000. They reiterated the same projection Monday, stating that the said figures are possible in the lead-up to inauguration day.
Their price predictions aren't far from other industry experts who believe that if the Republican presidential candidate wins this year, Bitcoin can surge up to $100,000. After all, Trump has been much more vocal about supporting the BTC community than his Democratic foe, Vice President Kamala Harris.
What Happens if Harris Wins?
If Harris Wins, Bernstein analysts believe Bitcoin prices will fall back to $50,000 in the lead-up to the inauguration before making a recovery. Notably, the drop has been adjusted, as Bernstein previously projected a significant plunge between $30,000 and $40,000 with a Harris victory.
Throughout her campaign, Harris has not mentioned Bitcoin. She did mention digital assets, blockchain technology, and supporting Black male crypto holders, but she has yet to publicly talk about BTC, the world's first decentralized crypto asset that became the catalyst for the birth of the burgeoning crypto sector.
Bernstein Sees Inevitable $BTC Spike Regardless of Election Results
Bernstein is quite bullish of Bitcoin, regardless if a Republican or Democrat wins the presidency Tuesday. They are expecting BTC prices to hit up to $200,000 by the end of 2025.
"The Bitcoin genie is out of the bottle, and it is hard to reverse this course. Our Bitcoin price target for the end of 2025 remains $200,000 independent of the election outcome," they reiterated.
Crypto Market Braces for Election Impact
Bitcoin and all other cryptocurrencies are bracing for the potential impact of the U.S. elections – a historical one due to the assassination attempt on Trump and the Democratic turn of events when outgoing President Joe Biden stepped out from the race to be replaced by Harris.
So far, it appears that some crypto tokens are riding the wave. Trump-based memecoins surged Sunday, as well as one Harris-themed token.
By Monday, things have switched up somehow, as many tokens, BTC included, dipped slightly as the race heats up hours before the elections. Most top tokens were in the red to kick off Tuesday on a negative note.
