30s Summary

Jeff Park of Bitwise suggests Bitcoin could hit $92,000 if Trump wins the presidency, a notion supported by Bitcoin investor Erik Finman who anticipates a possible surge to $100,000. Trump’s campaign has significant crypto undertones, including promises to make the US the “crypto capital of the world”. However, Mark Cuban argues a Trump victory could result in a temporary crypto surge, followed by a slump due to certain economic policies. Currently, Kamala Harris holds a slight lead in national polls but Trump is favored by betting markets.

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If Trump scores the presidency in November, Bitcoin’s prices could skyrocket to about $92,000. That’s what Jeff Park, the dude in charge of alpha strategies at Bitwise, is saying. Based on some fancy math and using Polymarket’s odds for Trump’s victory, Bitcoin looks like it’s set to surge if Trump grabs the win.

Park suggests that if Trump scores the presidency, Bitcoin might hit around $92,000. There are others who share this view, saying that if Trump wins, the price of cryptocurrencies like Bitcoin would go through the roof.

Erik Finman, a guy who made his fortunes from Bitcoin, thinks even a Trump election win could push Bitcoin to rally high to as much as $100,000. He says that Trump’s policies would supercharge the crypto market, causing a massive surge in growth.

No one can remember when crypto was as linked to politics as it is now. Trump, the Republican candidate, is honestly playing the crypto card big time in his 2024 election campaign. He’s hoping to snag single-issue crypto voters. His promises? To make the US the “crypto capital of the world” and boot out Securities and Exchange Commission Chair Gary Gensler on the first day of his presidency.

But not everyone is onboard. Billionaire investor and entrepreneur Mark Cuban thinks a Trump victory could push the crypto markets up for a bit, but then it would likely take a tumble again. He believes that some of Trump’s proposed economic policies could actually hurt Bitcoin’s price in the long run.

As of now, Kamala Harris is leading Trump by 1.8% in national polls. Still, betting markets are giving Trump an 18.8% lead over Harris on Polymarket. Will that mean anything for Bitcoin? We’ll soon find out!

Source: Cointelegraph