Bernstein: If Trump wins, bitcoin prices could bottom out

A new report from Bernstein Research suggests that the cryptocurrency market, and bitcoin in particular, could undergo a major shift based on the outcome of the upcoming US Presidential Election. The analysis suggests that a potential victory for Donald Trump could catalyze a bottom in bitcoin prices, which in turn could lead to price increases for major cryptocurrencies. "We believe that the price of bitcoin will only bottom if the crypto market becomes interested in a possible Trump victory, as crypto markets continue to interpret a Republican victory as a positive factor for crypto policy," the report states. The insight comes as cryptocurrency prices remain range-bound, which Bernstein attributes to the uncertainty surrounding the US election.