Bitcoin Price Surges to Record High of $75,000 as Election Impacts Cryptocurrency Sentiment

Gautam Chhugani, senior analyst at Bernstein, has pointed out that the election could have impacted the sentiment on cryptocurrency in the short term

The price of Bitcoin soared to a record high of over $75,000 on Monday, as the US presidential election entered its final stretch and the Republican candidate, Donald Trump, appeared to be gaining an edge in the polls.

The surge in Bitcoin prices, which comes amid a broader rally in cryptocurrencies, was being closely watched by investors and analysts, who noted the potential impact of the election on the market sentiment towards cryptocurrencies.

According to Gautam Chhugani, a senior analyst at Bernstein, the election could have a short-term influence on the market sentiment, depending on the candidate who emerges victorious.

"If Trump wins, Bitcoin could surge to around $80,000 to $90,000 over the next two months, as his administration is likely to be more crypto-friendly," Chhugani said.

During his presidential campaign, Trump received support from several prominent figures in the crypto sector, including Marc Andreessen and the Winklevoss twins. His affiliation with JD Vance, a longtime crypto proponent, further underlined his support for the crypto community.

On the other hand, if Democratic candidate Kamala Harris were to win the presidency, analysts warned that the coin could experience a significant drop, possibly reaching as low as $50,000, which would mark a 25% decline from the current prices.

Harris's economic plan appears to be a continuation of Biden's regulatory policy, which has raised concerns among investors about the future viability of cryptocurrencies under her administration.

Meanwhile, Biden's administration has maintained a strict regulatory approach towards cryptocurrencies, with the intention of売上が減少した場合の損失を補填するために、追加の資金を投入する必要があるため、収益性の低いビジネスを拡大することは困難です。

収益性の低いビジネスを拡大するには、追加の資金を投入する必要がありますが、売上が減少した場合、その損失を補填することが困難になります。

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