Election Outcomes Could Significantly Impact Bitcoin Prices
25.10.2024 8:00 1 min. read Alexander Zdravkov
Bitcoin's price is closely tied to the US election results, with predictions indicating that a Donald Trump victory could drive it to around $90,000, while a win for Kamala Harris might see it drop to $40,000.
Jeff Park, Head of Alpha Strategies at Bitwise, has forecasted that Bitcoin could reach $92,000 if Trump wins, based on probability analysis from the decentralized platform Polymarket.
He believes Bitcoin is likely to rally in response to a Trump victory. Similarly, Bitcoin millionaire Erik Finman suggested that the price could hit $100,000, claiming Trump’s policies would stimulate growth in the cryptocurrency market.
Conversely, billionaire Mark Cuban, a supporter of Kamala Harris, warned that although crypto markets might rise briefly after a Trump win, they would likely decline thereafter.
This could be due to concerns about inflation stemming from Trump’s economic policies affecting Bitcoin’s long-term prospects.
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