Fundstrat's Tom Lee and Bernstein Analysts Predict Robust Markets Heading into 2025, Regardless of the US Presidential Election Results

While Lee expects a broader market rally across sectors, Bernstein highlighted Bitcoin's (BTC) resilience amid political uncertainty.

Fundstrat Global Advisors managing partner Tom Lee and Bernstein analysts are among the market participants who have shared their thoughts on the upcoming US presidential election and its potential impact on markets.

While Lee broadly expects a year-end market rally regardless of the election results, Bernstein highlighted Bitcoin’s resilience amid political uncertainty.

Fundstrat’s Tom Lee: Markets to rally into 2025

Tom Lee, managing partner and head of research at Fundstrat, recently shared his views on CNBC, stating that favorable economic fundamentals and a dovish Federal Reserve position make a strong case for a year-end rally.

According to Lee, sidelined cash could flow back into the market as election-related uncertainty clears up. He said:

“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.”

Highlighting strong earnings reports and Fed support as strong drivers once the uncertainty around elections subsides, Lee believes that even with a divided or unified government, markets could perform well through the end of 2024 and beyond.

Bitcoin to withstand political shifts, claims Bernstein

Lee’s comments came alongside Bernstein’s outlook on Bitcoin, which they say remains poised to withstand political shifts.

In a note released on Nov. 4, Bernstein analysts highlighted Bitcoin’s structural drivers, including US fiscal policy, record debt levels, and increased demand for hard assets, as factors supporting its long-term growth.

According to Bernstein, “Bitcoin remains the most resilient within crypto,” and its limited market share compared to global fiscal assets leaves ample room for growth. The firm has set a price target of $200,000 for Bitcoin by 2025, anticipating the digital asset’s appeal in an environment of fiscal indiscipline and monetary expansion.

Bernstein analysts also noted that Bitcoin’s recent ETF adoption — bringing in over $23 billion in year-to-date inflows — may add to its momentum, regardless of who wins the presidency.

They see a potential initial price response depending on the election outcome, with a Trump victory possibly pushing Bitcoin toward new highs of $80,000 to $90,000, while a Harris win could initially lead to a dip near $50,000. The analysts emphasized that Trump’s perceived pro-crypto stance contrasts with Harris’s reportedly hawkish position.

Mentioned in this article

Assad Jafri

AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.

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CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.

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