Potential Trump Victory Could Shake Up Bitcoin Market, Bernstein Analysts Predict: Implications for These 7 Crypto Stocks Outlined

In view of the upcoming elections in 2024, analysts at the research and brokerage firm Bernstein they suggested that Bitcoin traders may not have fully factored in the former president’s possible victory 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 shift in cryptocurrency regulations if Trump is reelected in November, a report from Decrypt said on 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.

See also: Mark Cuban Says Trump’s Re-Election Won’t Have Any Impact on Bitcoin Price and Burn Rate of ‘Dogecoin Killer’ Shiba Inu

The report flagged seven stocks in three categories: Bitcoin mining consolidators including Riot Inc. Platform REVOLT, Subsidiary of CleanSpark Inc. CLSKAND Publicly traded company Marathon Digital Holdings Inc. MARAHybrid Bitcoin/AI data centers included Company specializing in natural sciences CORZ AND Iris Energy Ltd. Agricultural Company IRENEand cryptocurrency brokerage/exchange platform Robinhood Markets Inc. HOODas 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 may announce Bitcoin as a strategic reserve asset for the United States during his July 27 speech.

Price Action:At the time of writing, Bitcoin was trading at $67,565.13, down a marginal 0.57% over the past 24 hours, according to data from Benzinga Pro.

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Disclaimer: This content was produced in part with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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