Bernstein Predicts Trump Win Could Boost Crypto Markets

According to a recent research report by Wall Street broker Bernstein, the upcoming U.S. elections could significantly impact cryptocurrency markets, with contrasting outcomes depending on the winner. Bernstein’s analysis suggests that a Donald Trump victory in November would likely create bullish momentum for the crypto market, while a win by Kamala Harris could lead to bearish trends.

Bernstein points to recent shifts in Polymarket odds, a popular prediction market platform, where changes in favor of Harris have coincided with a weakening in Bitcoin prices. Analysts believe Bitcoin may continue to trade within a limited range until the election outcome becomes clearer.

The report highlights that Republican supporters describe the current situation as an “initial honeymoon phase” and suggest that Polymarket odds might be subject to manipulation. Despite this, Bernstein notes that the Trump-led Republican side has been actively engaging with the crypto community, including Bitcoin miners and blockchain companies, making a compelling case for favorable policies.

Promises of a National Bitcoin Reserve

The Trump campaign has been particularly vocal about its support for cryptocurrency. Analysts, led by Gautam Chhugani, emphasized that Trump’s team has proposed a “strong pitch to crypto voters,” including the potential creation of a national Bitcoin reserve.

Last month, during a speech at the Bitcoin Conference in Nashville, former President Trump pledged to maintain a strategic national Bitcoin reserve and promised not to sell any government-seized Bitcoin if re-elected. This proposal has resonated with crypto enthusiasts, adding to the market’s anticipation of potential election outcomes.

As the election approaches, the crypto market remains poised for possible shifts depending on the direction of U.S. leadership.