According to The Block, investment research firm Bernstein's latest report predicts that regardless of the outcome of the US election, the bitcoin price is expected to reach $200,000 by the end of 2025. Analysts believe that Trump is seen as a pro-cryptocurrency candidate, while Harris may continue the hard-line stance of the Democratic Party over the past four years. Bernstein analysts predict that if Trump wins the election, bitcoin prices could break through all-time highs and reach $80,000 to $90,000 before Inauguration Day (January 20, 2025). Harris's victory could cause bitcoin to fall to $50,000 over the same period, higher than the previously predicted $30,000 to $40,000 range. The report pointed out that the main drivers of bitcoin include lax fiscal discipline in the United States, record debt levels and monetary expansion, which have driven up demand for hard assets. The success of US spot bitcoin ETFs has further accelerated this trend.