As a seasoned crypto investor with over a decade of experience navigating market cycles and political landscapes, I find myself intrigued by the recent predictions of Bitcoin price surges if Donald Trump wins the US presidency. While I’ve seen my fair share of bullish and bearish market forecasts, this particular scenario presents an interesting perspective.
According to Bitwise’s chief strategist for alternative investments, Bitcoin could potentially surge up to $92,000 if Donald Trump secures the U.S. presidency in November.
In a post dated October 22nd on X, Jeff Park explained that comparing Bitcoin’s (BTC) price with Trump’s chances of winning on the decentralized betting platform Polymarket and using “probability mathematics similar to merger arbitrage” suggested a significant likelihood of Bitcoin increasing in value if Trump won the election.
“I project a Trump victory could push BTC to ~$92,000,” wrote Park.
park’s optimistic forecast about bitcoin’s price increase aligns with many experts and analysts who anticipate that if trump wins, the cost of cryptocurrencies will surge dramatically.
Bitcoin millionaire Erik Finman told CryptoMoon he believes a Trump election win could see Bitcoin rally as high as $100,000.
“His policies will ignite the crypto market, fueling massive growth across the board.”
2024 presidential election could significantly impact cryptocurrency, as Republican nominee Donald Trump has emphasized pro-cryptocurrency policies in his campaign.
To attract voters who are passionate about cryptocurrencies, Trump has pledged to transform the United States into a global leader in crypto technology and indicated that he would dismiss Gary Gensler, the chair of the Securities and Exchange Commission, on his first day in office.
However, not everyone is convinced that a Trump win would be a long-term win for crypto markets.
Billionaire investor and entrepreneur Mark Cuban — who has come out in support of Kamala Harris — told CryptoMoon that if Trump wins, the crypto markets will likely “pump for a few weeks” before descending again.
He said several of Trump’s proposed economic policies — including his controversial import tariffs — are highly inflationary and could hinder Bitcoin’s price action over a longer time span.
Harris currently leads Trump by 1.8% in the national polls, according to data from 538 polls.
The story is completely different on betting markets, with Trump currently holding an 18.8% lead over Harris on Polymarket.
X Hall of Flame: Bitcoin will ‘start ripping’ as Trump’s polls improve — Felix Hartmann
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2024-10-24 08:27