Markets
Potential Trump Victory Could Shake Up Bitcoin Market, Bernstein Analysts Predict: Implications for These 7 Crypto Stocks Outlined – Cleanspark (NASDAQ:CLSK)
In view of the upcoming elections in 2024, analysts at the research and brokerage firm Bernstein they suggested that Bitcoin BTC/USD traders may not have taken the former president’s possible victory seriously into consideration Donald Trumpan event that could significantly disrupt the cryptocurrency market.
What happened: Bernstein’s team, led by Gautam Chhuganiargues that the market has failed to account for a potential positive change in cryptocurrency regulations if Trump is re-elected in November, a Decrypt relationship they said Monday. They expect significant growth from institutional investors investing in cryptocurrencies and associated stocks.
Bernstein analysts are keeping an eye on seven key cryptocurrency stocks as Trump prepares to speak at the Bitcoin Nashville conference on July 27. The research firm has a positive outlook on the cryptocurrency sector, predicting significant upside potential for some companies in light of a potentially improved regulatory environment.
The report flagged seven stocks in three categories: Bitcoin mining consolidators including Riot Inc. Platform REVOLT, Subsidiary of CleanSpark Inc. CLSK and Publicly traded company Marathon Digital Holdings Inc. MARA, Hybrid Bitcoin/AI Data Centers Included Company specializing in natural sciences CORZ and Iris Energy Ltd. Agricultural Company IREN and cryptocurrency brokerage/exchange platform Robinhood Markets Inc. HOOD, as well as Bitcoin’s corporate treasury, MicroStrategy Inc. MSTR.
Because matter: Trump’s upcoming speech at the Bitcoin 2024 Conference in Nashville and his recent enthusiasm for cryptocurrency have made headlines. Trump’s event, scheduled for July 27, aims to raise funds for his presidential campaign while also highlighting his newfound support for cryptocurrency. The invitation to his exclusive event boasts a staggering ticket price of $844,600, equivalent to the price of 13 Bitcoin.
Analysts have warned traders The Risks of Shorting Bitcoin Ahead of Trump’s Next Speech at the conference. There are widespread rumors that Trump might announce Bitcoin as a strategic reserve activities for the United States during his speech on July 27.
Price Action:At the time of writing, Bitcoin was trading at $67,565.13, down marginally by 0.57% over the past 24 hours, according to data from Benzinga Pro.
Read also:
Disclaimer: This content was produced partially with the help of Benzinga Neuro and has been reviewed and published by Benzinga’s editorial team.
News and market data provided by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.