Bernstein noted that Bitcoin could reach $80,000-$90,000 if Republican candidate Donald Trump wins the presidential election in November.
“Despite the fact that both candidates declare support for digital assets, the stakes in the cryptocurrency market are stronger against the backdrop of Trump’s success in the presidential race,” experts commented on the rise in the value of Bitcoin.
MicroStrategy stock is also an important indicator of a possible bullish breakout. Since the beginning of the year, the company’s securities have risen in price by 191%, while Bitcoin has risen by 55%. The company’s share price reached its peak in March of this year and, unlike the first cryptocurrency, its value continues to grow, analysts noted.
“MicroStrategy took advantage of the lows by issuing equity and convertible debt to replenish reserves in the first cryptocurrency, and was rewarded for doing so,” Bernstein said.
They noticed that the steepness of the US government bond curve was increasing. This is an indicator of increased volatility and growing demand for Bitcoin and other digital assets.
Previously, Presto Research experts said that the announced measures to support the Chinese economy provoked a rise in Bitcoin above $64,000, as a result of which investor sentiment in the crypto market improved somewhat.
Source: Bits
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