Bernstein: Any loose monetary policy and signals of a weaker dollar are beneficial for Bitcoin

2024-09-23 19:55:41

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ChainCatcher news, according to Decrypt, Bernstein analyst Gautam Chhugani stated that any signals of loose monetary policy and potential dollar weakness are positive for Bitcoin. He pointed out that as of this year, Bitcoin has risen by 45%, surpassing gold's 27% increase. During a fundraising event held in New York last weekend, U.S. Vice President Kamala Harris expressed support for digital assets and publicly mentioned the crypto industry for the first time.

Previously, former U.S. President Donald Trump also held a pro-crypto stance, advocating for friendlier regulatory policies. Although the crypto community remains cautious about Harris's position, Bernstein analysts believe that Harris's statement, along with Trump's support, indicates bipartisan backing, which could lead to more regulatory clarity. The momentum for Bitcoin ETFs remains an important factor. Despite recent price fluctuations, Bitcoin ETF inflows continue to show net inflows, with a cumulative inflow of $17 billion.

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