Bitwise’s head of alpha strategies, Jeff Park, predicts Bitcoin could surge to $92,000 if Donald Trump wins the U.S. presidency.
How Donald Trump Win Could Drive Bitcoin to $92K
The head of alpha strategies at crypto asset company Bitwise thinks that Bitcoin could rise as high as $92,000 if Donald Trump wins the presidential election in November.
Jeff Park wrote in an Oct. 22 post to X that there was a good chance that Bitcoin would go through the roof after Trump won the election. He plotted Bitcoin’s price against Trump’s odds on the decentralized betting site Polymarket and used “merger arb-style probability math.”
Park is the latest expert to say that the price of Bitcoin will go up. Many others are also saying that if Trump wins, the price of crypto assets will go through the roof.
Erik Finman, a Bitcoin millionaire, told Cointelegraph that he thinks Bitcoin could go up to $100,000 if Trump wins the election.
“His policies will set the crypto market on fire, causing huge growth everywhere.”
The price of crypto has never been so tied to the result of a single election. Donald Trump, the Republican candidate for president in 2024, has made support for crypto policies a central part of his campaign.
Trump wants to win over crypto voters who only care about one problem. He has said that he will fire SEC Chair Gary Gensler on “day one” of his presidency and make the US the “crypto capital of the world.”
But not everyone is sure that a Trump victory would be good for crypto markets in the long run.
Rich businessman and investor Mark Cuban, who backed Kamala Harris, told Cointelegraph that if Trump wins, the cryptocurrency markets will probably “pump for a few weeks” before going down again.
He said that some of Trump’s economic ideas, like his controversial taxes on imports, would cause a lot of inflation and could slow down Bitcoin’s price over a longer period of time.
538 polls show that Harris is ahead of Trump by 1.8% in the national polls right now.
On betting markets, things are very different. Right now, Trump has an 18.8% lead over Harris on Polymarket.
