Donald Trump’s victory in the US presidential election may trigger bitcoin’s growth

Analysts at Bernstein predict that if Donald Trump wins the presidential election in November, the bitcoin rate BTC $65,642.27 Bitcoin -0.19% Market capitalization $1.3 trillion VOL. 24 hours $0.59 billion could reach $ 90,000 by the end of 2024. This is due to the fact that Trump actively supports the cryptocurrency industry and plans to make the United States the «crypto capital» of the world, CoinDesk writes.

Analysts believe that a positive regulatory policy after the recent years of «regulatory purges» can stimulate innovation in the field of blockchain products.

In case Kamala Harris wins, who has not yet expressed a clear position on cryptocurrencies, market experts see this as a bearish factor. In this case, bitcoin is likely to fall to $ 30,000-$ 40,000.

Earlier, we reported that the family of former US President Donald Trump announced the launch of its own decentralized crypto platform, World Liberty Financial, which specializes in lending. The platform will be based on the Aave decentralized finance protocol and the Ethereum blockchain.

It should be added that at the Bitcoin2024 conference in Nashville, Trump said that on the very first day he would fire Securities and Exchange Commission Chairman Gary Genslerand put an end to policies that prevent crypto investors and companies from using digital assets. The former US president then promised to implement a complete transformation of US policy on bitcoin and cryptocurrencies if re-elected.