Bitcoin nudged above $55,000 in the European morning, maintaining a stable range over the weekend, with analysts anticipating future movements influenced by upcoming U.S. economic data.
Broker Bernstein predicts a Trump victory could propel Bitcoin to $90,000, while a Harris win might push it down to $30,000-$40,000, emphasizing the importance of regulatory sentiment.
It was noted that Trump's vocal support for Bitcoin and intentions to establish the U.S. as a 'crypto capital' could rejuvenate the blockchain financial products sector.
Presto Research highlights that Bitcoin is currently 'grossly undervalued' as the market may be overlooking the critical factor of Bitcoin's network security and its hashrate.
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