Analysts at research and brokerage firm Bernstein have raised their price forecast for Bitcoin following a potential victory for US Vice President Kamala Harris. Previously, experts believed that a Harris victory could lead Bitcoin to test a new low in the $40 range. However, a recent prediction highlighted that the largest cryptocurrency could reach $50. The information was published by The Block.
According to the publication, Bernstein analysts’ price target is $200,000 by the end of next year, regardless of the outcome of the US elections. The election will take place tomorrow, November 5.
“The Bitcoin genie is out of the bottle, and it’s hard to reverse course. Our Bitcoin price target for the end of 2025 remains $200,000, regardless of the outcome of the election.”
Bernstein analysts have reiterated their prediction that Bitcoin’s price could reach new all-time highs if former US President and current candidate Donald Trump wins the presidential election. The analysts’ prediction reiterated that BTC could reach between $80,000 and $90,000 with a Trump victory.
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According to the report, neither candidate is priced in for a victory. The forecast predicts that Bitcoin will break all-time highs of nearly $74,000 and reach $80,000 to $90,000 following a Trump victory in the run-up to his inauguration as US president on January 20. However, if Harris wins the election, the price of Bitcoin could fall to $50,000, up from the previously predicted range of $30,000 to $40,000 in that scenario.
Bitcoin today 04/11/2024: BTC trades above $68 amid volatility as elections approach
Bitcoin price today 04/11/2024 is making a small recovery, trading above $68 amid volatility ahead of the upcoming US elections. Crypto traders can expect to see an increase in BTC price volatility soon, as the US presidential election scheduled for November 5 could trigger price swings for the asset. The volatility could be on par with the dramatic moves seen earlier in August.
In a bearish move, Bitcoin has retreated again to the $68 zone, where it is currently trading. In its last bullish peak recorded today, November 4, the asset reached the $69.317 level, but failed to sustain and retreated to the current zone.
At the time of publication, the price of Bitcoin was quoted at US$ 68,738.45 with an increase of 0.5% in the last 24 hours, equivalent to approximately R$ 403,700.83 BRL and € 63,073.83 EUR.
Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Tags: Bitcoin (BTC), Donald Trump, Kamala Harris
