Bitcoin could skyrocket to new heights with a potential Donald Trump victory in the upcoming U.S. elections, predicts brokerage firm Bernstein. Their latest analysis suggests that Bitcoin might surge to $90,000 by year-end if Trump, who has pledged to make America the global hub for cryptocurrencies, wins the November election. Trump’s proposals include significant crypto-friendly initiatives such as appointing a pro-crypto SEC chairman and establishing a national strategic Bitcoin reserve.

On the flip side, a win by Kamala Harris, who has yet to mention cryptocurrency in her campaign, could see Bitcoin values plummet to the $30,000-$40,000 range. Analysts at Bernstein highlight Trump’s enthusiastic crypto endorsements in every policy speech, contrasting sharply with Harris’s silence on the topic.

Bernstein analysts believe that a supportive crypto regulatory environment under a Trump administration could revitalize innovation and attract more users to blockchain financial products. They suggest that betting on cryptocurrencies this election is effectively a wager on Trump’s success.