Bernstein Says Politics Will Dominate Crypto Markets Until November Election

IconCryptoNewsTerminal Staff29 Jul, 2024

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Bernstein Says Politics Will Dominate Crypto Markets Until November Election

Bernstein, a U.S. Wall Street investment bank, recently shared its outlook on the cryptocurrency market, emphasizing the significant influence of political factors on the industry. In a note to clients, the firm highlighted that the crypto market is no longer considered a partisan issue in the United States. Bernstein analysts believe that the crypto market will likely respond positively to a potential victory by Donald Trump. On the other hand, Kamala Harris' campaign has attempted to engage with the crypto community but is perceived as lagging behind. As a result, the industry seeks tangible actions before offering support. The analysts concluded that the crypto market will remain sensitive to political developments until clarity emerges after the election in November. They anticipate that Bitcoin (BTC) and crypto-related stocks will benefit from a heightened probability of a Trump victory.

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