Bernstein: bitcoin price could bottom out if Trump wins

A new report from Bernstein Research suggests that the cryptocurrency market, particularly Bitcoin, could undergo a major shift based on the outcome of the upcoming U.S. presidential election. The analysis suggests that a potential victory for Donald Trump could catalyze a bottoming in the price of Bitcoin, which could lead to an increase in the price of major cryptocurrencies. The report states, “We believe that Bitcoin prices will only bottom if the crypto market becomes interested in a potential Trump victory, as the crypto market continues to interpret a Republican victory as favorable for crypto policy.” This insight comes at a time when cryptocurrency prices remain range-bound, which Bernstein attributes to the uncertainty surrounding the U.S. election.