Amid the “Trump factor” for Bitcoin miners, a “Goldilocks scenario” is emerging as the prospects for pro-BTC political change increase, according to Bernstein analysts. Analysts expect BTC mining stocks to open positive on Monday after weeks of sideways price action.
‘Goldilocks’ scenario for Bitcoin!
As you have been following on Kriptokoin.com, there was a failed assassination attempt on the former US President at a rally in Pennsylvania on Saturday. Following this, the price of the leading crypto Bitcoin made a strong move upwards. Analysts at research and brokerage firm Bernstein say a “Goldilocks scenario” has emerged for BTC miners amid the “Trump factor”. Here’s how Gautam Chhugani and Mahika Sapra assess the developments on Monday:
A Goldilocks scenario for Bitcoin mining is emerging: The likelihood of pro-Bitcoin political change is increasing. The US becomes the dominant hub for BTC mining and the latest generation of mining chips. Miners are gaining value due to their leadership in power interconnection. Also, miners are emerging as strong partners for AI data centers.
Is the cryptocurrency market pricing in a Trump victory?
When the assassin’s bullet pierced Trump’s right ear and the presumptive Republican presidential candidate fell to the ground, the BTC price initially plummeted. However, it recovered strongly when the former President stood up, raised his fist in the air and shouted “fight”. Bitcoin then jumped nearly 6% from $59,250 to $63,000 in what some commentators dubbed the “Trump pump”.
Decentralized prediction market platform Polymarket’s odds for the winner of the US presidential election currently show a 71% chance for Trump. Incidentally, it was about 60% at the time of the event. According to analysts, the crypto market interprets Trump’s win as “more positive” for crypto, given the Biden administration’s regulatory crackdown on the sector compared to Trump’s pro-Bitcoin statements in recent months, including advocating for self-custody and BTC mining. “Bitcoin’s price is positively correlated with the possibility of a Trump Presidency and will remain sensitive to election updates,” analysts say.
Bitcoin miners and BTC price predictions
Chhugani and Sapra expect publicly traded miners’ stocks to follow Bitcoin after the shocking events of the weekend. They also forecast a positive open on Monday after weeks of sideways price action post halving. Additional advantages for miners include a broad power access pipeline in the US, AI diversification opportunities and more mining technology, with Jack Dorsey‘s Block recently agreeing to supply new 3nm mining chips to Core Scientific, analysts say.
Last week, Bernstein analysts began covering two more miners with hybrid Bitcoin mining and AI data center strategies, Core Scientific and IREN: Core Scientific and IREN. Chhugani and Sapra also maintain BTC price targets of $200,000 for end-2025, $500,000 for end-2029 and $1 million for end-2033. Gautam Chhugani holds long positions in various cryptocurrencies.
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Yazının devamı için Goldilocks Scenario: Bernstein’s ‘Trump’ Comment for Bitcoin!