Bitcoin climbs as we count down to Harris-Trump debate just as crypto predictor Hayes changes strategy

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Last Updated on 10 September 2024 by CryptoTips.eu

Asset manager Bernstein, a well-known Wall Street behemoth with 750 billion dollars in assets under management, made an analysis of the Bitcoin price and predicts how it will react to an election victory of Harris or Trump in the November elections (and thus also which direction it will take after tonight’s debate).

In the meantime, Arthur Hayes stated that he has already closed his ‘short’ (which he announced on Friday) and is once again looking more positively at crypto for the short term.

Bitcoin rose by some 2.5% in the last 24 hours and is trading for $56,500 at the time of writing.

Advertentie.

Harris-Trump

Nothing could be more important in the coming months than who will become the next president of the United States: Kamala Harris for the Democrats or Donald Trump for the Republicans.

This will also have a major impact on the price of Bitcoin according to Wall Street wealth manager Bernstein. In their latest report they stated:

How big is the impact on crypto prices depending on the election outcome? We expect Bitcoin to claim back new highs, in case of a Trump win and by Q4, we expect Bitcoin to reach close to $80K-90K range. However, if Harris wins, we expect Bitcoin to break the current floor around $50K and test the $30K-40K range, which it was when the Bitcoin ETF momentum started in Q4’ 2023.

GOAT

Arthur Hayes, perhaps the best short-term Bitcoin forecaster of the year (some call him the GOAT of crypto trading) predicted a fall for the Bitcoin price on Friday afternoon, hours before the US jobs figures were released. Hayes thought the largest digital coin would drop below $50,000, but things didn’t go as negative as he assumed. $53,000 was briefly touched after which Bitcoin started to rise again.

Hayes reported on Sunday night that he had closed his shorts. He now predicts another increase of the Bitcoin price for the short term (although we think that also depends on Trump’s success during tonight’s debate). An interesting few days ahead

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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