Gautam Chhugani, senior analyst at Bernstein, has pointed out that the election could have impacted the sentiment on cryptocurrency in the short term, depending on which candidate won.
Bitcoin prices have surged over $75,000 to a record high, reflecting the market’s positive outlook as Republican Donald Trump is taking the lead.
Donald Trump’s Stance on Crypto
Donald Trump has shown support for cryptocurrency during his presidential campaign, if he won, Bitcoin could surge to around $80,000 to $90,000 over the next two months, according to Bernstein’s prediction.
During his campaign, Trump has gained support from important figures in the Crypto sector, which included Marc Andreessen and the Winklevoss twins. Trump’s affiliation with JD Vance, a longtime crypto proponent, also affirmed his supportive stance on the crypto community.
Kamala Harris’s Stance on Crypto
Meanwhile, Harris’s economic plan seems to be a continuation of Biden’s regulatory policy, if she won, analysts warn that the coin could drop to as low as $50,000, which is a 25% drop from the current prices.
During Biden’s presidency, his policy on crypto was that of strict regulation, Harris’ intention of continuing that regulatory policy brought up the debate among investors about the future viability of the crypto under her administration.
Stocks That Could Benefit From Trump’s Pro-Crypto Policy
Jasmine Technology Solution PCL (SET: JTS) is trading at THB 72.50 per share in the morning session on November 5, 2024, representing a gain of THB2.50 or 3.58%.
Brooker Group PCL (SET: BTC) is trading at THB 0.59 per share, representing a gain of THB0.02 or 3.51%. BTC rose as high as THB 0.60 and lowest at 0.58 during the session.
