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Tom Lee from Fundstrat Global Advisors and analysts at Bernstein forecast strong markets as they approach 2025, irrespective of the outcomes of the forthcoming US presidential election.
While Lee anticipates a widespread market surge across various sectors, Bernstein underscored Bitcoin’s (BTC) durability in the face of political instability.
Recently, Tom Lee, managing partner and head of research at Fundstrat, expressed his insights on CNBC, asserting that positive economic fundamentals and a dovish stance from the Federal Reserve support the case for a year-end rally.
Lee indicated that cash that has been sidelined could re-enter the market as uncertainties related to the election diminish. He stated:
“I’m bullish only in the sense that election uncertainty has caused people to derisk and cash to sit on the sidelines, but the fundamentals have been good.”
Lee pointed to strong earnings reports and Federal Reserve backing as significant factors once the election-related uncertainty dissipates. He believes that whether the government is divided or unified, markets could perform favorably through the end of 2024 and beyond.
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Bitcoin to endure political changes
Lee’s remarks align with Bernstein’s perspective on Bitcoin, which they assert is well-positioned to endure political changes.
In a note published on Nov. 4, Bernstein analysts emphasized Bitcoin’s structural drivers, such as US fiscal policy, unprecedented debt levels, and heightened demand for hard assets, as elements that will support its long-term expansion.
Bernstein stated, “Bitcoin remains the most resilient within crypto,” noting that its limited market share relative to global fiscal assets provides significant growth potential. The firm has established a price target of $200,000 for Bitcoin by 2025, anticipating the digital asset’s attractiveness in a climate of fiscal irresponsibility and monetary expansion.
Analysts at Bernstein also observed that Bitcoin’s recent ETF adoption — which has attracted over $23 billion in inflows year-to-date — could enhance its momentum, regardless of the presidential election outcome.
They foresee a potential initial price reaction based on the election results, with a Trump victory possibly driving Bitcoin towards new highs of $80,000 to $90,000, while a Harris win might initially result in a decline near $50,000. The analysts highlighted that Trump’s perceived pro-crypto position contrasts with Harris’s reportedly hawkish stance.
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