Bitcoin’s Potential Surge to $90K: Could Trump’s Presidential Win Be the Catalyst

As the U.S. presidential election approaches, bitcoin analysts at Bernstein are predicting that the cryptocurrency could skyrocket to $80,000–$90,000 if Donald Trump secures a victory. While both Trump and Kamala Harris hold drastically different positions on crypto, the upcoming election could be a game-changer for bitcoin’s price trajectory.

Trump’s Pro-Crypto Stance and Bitcoin’s Price Surge

Bernstein’s analysts see a Trump win as a catalyst for bitcoin to reach unprecedented highs. The former president’s pro-crypto stance, which includes accepting cryptocurrency donations and proposing a U.S. bitcoin mining “powerhouse,” is seen as a driving force behind this potential surge. Trump’s policies also include appointing a crypto-friendly SEC chair and creating a strategic national bitcoin reserve, all of which could accelerate bitcoin’s growth.

On the flip side, if Kamala Harris wins the election, Bernstein predicts bitcoin could drop back to the $40,000 range. Harris, while recently vocal about encouraging crypto business, hasn’t put forth the same aggressive policies as Trump, leading analysts to foresee a short-term decline in bitcoin’s price under her leadership.

Polymarket and the Election Odds Divergence

The crypto-based prediction platform Polymarket has shown a significant odds divergence in favor of Trump, particularly after a recent rally in Pennsylvania where he gained an 8% lead over Harris. Trump’s advantage on Polymarket is being closely watched by crypto enthusiasts, with some arguing that the platform’s pro-crypto leanings might create a bias toward Trump.

However, Bernstein analysts dismiss this theory, noting that Polymarket’s liquidity and the sheer volume of bets (over $1.5 billion) suggest that bettors are more likely to put money on real odds than personal biases.

What Does This Mean for Altcoins?

While bitcoin’s future may be tied closely to the election outcome, the Bernstein analysts have a different outlook for altcoins like Ethereum (ETH) and Solana (SOL). They expect altcoins to remain range-bound until there’s more clarity on the U.S. regulatory environment after the election. A key factor in the altcoin market will be who is appointed as the next SEC chair and how the White House approaches blockchain regulation.

Conclusion: Election Impact on Bitcoin’s Future

In the long term, Bernstein believes bitcoin will perform well regardless of the election results, driven by factors like low interest rates, fiscal deficits, and rising debt levels. However, in the near term, the outcome of the U.S. presidential election could play a pivotal role in determining bitcoin’s price trajectory. A Trump win could lead to a significant bitcoin rally, while a Harris victory might push the cryptocurrency to test lower price ranges.

For now, all eyes are on the November election, as it could mark a crucial turning point for the future of digital assets in the U.S. and beyond.