Bernstein analysts reiterated their prediction that the bitcoin price could reach $80,000 to $90,000 if Donald Trump wins the presidential election next month. While analysts expect bitcoin to perform well in the long term regardless of the outcome, they said it could test the $40,000 range again if Kamala Harris wins. Mr. Trump this year repositioned himself as a pro-cryptocurrency candidate, accepting cryptocurrencies as campaign contributions and outlining policies to turn the US into a bitcoin mining "powerhouse", appoint a crypto-friendly SEC chairperson and build a national strategic bitcoin reserve. Harris, by contrast, has only recently mentioned cryptocurrencies in any speech or policy statement, and last month she made broader comments saying she would encourage cryptocurrency businesses while protecting consumers, that the U.S. should "dominate" the blockchain space, and that digital assets are part of her vision of an "opportunity economy." While Bernstein analysts believe that in the context of low interest rates, persistent U.S. fiscal deficits, and unprecedented debt levels, bitcoin will perform well in the long term regardless of the outcome, the short-term reaction to the election could be substantial.