Investment firm Bernstein remains confident in Bitcoin’s upward trajectory, projecting a $200,000 price regardless of the U.S. presidential election results. Despite recent market jitters, Bitcoin exchange-traded funds (ETFs) in the U.S. saw significant outflows, with $541.1 million withdrawn across 11 spot Bitcoin ETFs just one day before the election. Analysts speculate that these outflows indicate institutional caution regarding a potential Trump victory, which many expect to boost Bitcoin’s price.
November 4 marked the second-largest outflow day for Bitcoin ETFs on record, just behind May 1, when ETFs saw $563.7 million withdrawn amid a 10.7% drop in Bitcoin’s price over a week.
Bernstein Predicts $200K Bitcoin Regardless of Election Outcome
While some view Bitcoin’s price as hinging on the election, Bernstein analysts have stated that their $200,000 price target remains on track, with or without a Trump win. According to the firm, this valuation is a “conservative” forecast by 2026. In the short term, Bernstein expects Bitcoin to rally to $80,000–$90,000 if Trump wins, while a Harris victory may see Bitcoin’s value dip back to $50,000 due to her hawkish stance on crypto regulation.
Long-Term Outlook Driven by Macroeconomic Trends
Rob Hadick, General Partner at Dragonfly, expressed that while a Trump win could boost Bitcoin temporarily, the primary narrative behind Bitcoin’s value lies in broader macroeconomic trends. He pointed to rising liquidity and quantitative easing, adding that the long-term outlook for Bitcoin and other risk assets appears positive.
Hadick remains optimistic that a “soft landing” for the U.S. economy is achievable, with increased investor exposure to risk assets signaling stability beyond election-driven volatility.
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