Bernstein analysts believe that Bitcoin's recent rise is due to its correlation with Donald Trump's increasing chances of being elected. They state that as Trump's election odds increase, Bitcoin gets stronger. The analysts also noted that MicroStrategy's stock serves as a leading indicator for Bitcoin's potential price appreciation. They predict that if Trump wins the presidential election, Bitcoin could reach $80,000 to $90,000. However, they warn that if Harris wins, Bitcoin could test the $40,000 range again in the short term. They believe that Bitcoin will perform well in the long term regardless of the election outcome.



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