Bernstein: Any signs of loose monetary policy and potential dollar weakness are positive for Bitcoin
2024-09-23 11:51:22
Bernstein analyst Gautam Chhugani said any sign of loose monetary policy, as well as potential dollar weakness, would be positive for bitcoin. He noted that bitcoin has rallied 45% so far this year, outpacing gold's 27% gain. At a fundraising event in New York over the weekend, US Vice President Kamala Harris voiced support for digital assets and made her first public reference to the crypto industry. This follows former US President Donald Trump's pro-crypto stance, advocating for friendlier regulations. While the crypto community remains cautious about Harris' stance, Bernstein analysts believe that Harris' statement and Trump's support demonstrate bipartisan support, which could lead to more regulatory clarity. The momentum of bitcoin ETFs remains an important factor. Despite recent price volatility, bitcoin ETF flows have remained net inflows, with cumulative inflows reaching $17 billion.
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