BlockBeats News, November 11: After Donald Trump won the election last week and pushed Bitcoin to a new all-time high of $80,000, analysts from research and brokerage firm Bernstein urged investors to “as soon as possible” Increase investment in the cryptocurrency industry.
“Don’t fight this, welcome to the crypto bull market – buy everything you can,” a team of analysts led by Gautam Chhugani told clients in a strongly bullish note on Monday.
Chhugani encouraged investors who have avoided investing in cryptocurrencies due to regulatory concerns to “shift their mindset” following the U.S. election results, noting that under Trump a crypto-friendly regulatory environment is expected, starting with the new SEC Chairman begins.
Analysts pointed out that Trump proposed a series of crypto policies during the campaign, including establishing a national Bitcoin reserve and promising to “end the war on cryptocurrency regulation.” Although establishing a new strategic reserve will require legislation and may not be realized until 2025, they believe that “the direction of Bitcoin becoming a fiscal asset is obvious, whether held by businesses, governments or institutions.” (The Block)
