Bernstein Analysts Predict BTC Price Under Trump, Harris; $200,000 for BTC regardless
Bernstein analysts forecast a price target of $200,000 by the end of 2025 regardless of the outcome of the US election on Tuesday. While Trump is considered a pro-crypto candidate compared to Harris, who is likely to be hawkish on crypto as a Democrat, the party has recently seen a major shift in its stance.
Analysts say the main drivers of Bitcoin are US fiscal indiscipline, record debt levels and monetary expansion, which will increase demand for hard assets, and the success of US spot bitcoin exchange-traded funds will accelerate this trend enough for further growth.
“The Bitcoin Genie Is Out”
“The Bitcoin genie is out of the bottle, and it will be difficult to reverse this course. At the end of 2025, our Bitcoin price target remains at $200,000 independent of the election results.
Analysts say that the victory of both candidates is not valued. Following Trump's victory on January 20th, he reiterated that he expects Bitcoin to break the highs of around $74,000 and reach $80,000 to $90,000.
On the other hand, they stated that a Harris win could see Bitcoin drop to $50,000 before any recovery, which is an increase from the previously estimated $30,000 to $40,000.
BRN analyst Valentin Fournier said the recent market correction was largely due to profit-taking and a temporary decrease in bitcoin ETF inflows. However, he remains optimistic that a new all-time year-end rally for Bitcoin is possible in the coming weeks.
Election impact on other crypto sectors
Bernstein analysts note that the constructive SEC opens up opportunities for all crypto assets beyond Bitcoin.
The report also touched on the regulatory landscape for other crypto assets such as Ethereum ETH/USD and Solana SOL/USD, noting that Ether could see a more secure position with ETF approval under the Harris administration, which could further limit competition for new regulated products like the Solana ETF.
Blockchains like Ethereum and Solana lean toward stablecoins, asset tokens, and crypto-assets, so binary support and a crypto-friendly SEC are critical.
