Bernstein: Trump’s Victory Could Boost Crypto Markets
According to a research report by Wall Street broker Bernstein, the current market sentiment suggests that a victory for Donald Trump in the US elections would have a positive impact on crypto markets, while a win for Kamala Harris would lead to a bearish market.
In particular, the broker points to the weakening of Bitcoin after polls and prediction markets like Polymarket have shifted in Harris’ favor.
However, the uncertainty around the election results has caused Bitcoin to remain rangebound, according to Bernstein.
The report also mentions Republican supporters claiming that the polls and prediction markets are open to manipulation and that the current shifts in favor of Harris are just an “initial honeymoon phase”.
Bernstein also highlights the Trump-led Republican side’s engagement with the crypto sector, including promises of favorable policies and even teasing the possibility of a national Bitcoin reserve.
