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Bitwise: Bitcoin Price to Rise to $92 After Donald Trump's Victory

Bitwise: Bitcoin Price to Rise to $92 After Donald Trump's Victory

HappyCoinNews2024/10/25 19:33
By: HappyCoinNews
BTC-0.10%

The CEO of crypto asset manager Bitwise predicts that Bitcoin could rise to $92 if Donald Trump becomes the new US president.

To support his prediction, Jeff Park provided a chart of the leading crypto asset’s price versus Trump’s odds on decentralized betting platform Polymarket. He also applied “arbitrage-style probability math” to show a high chance of Bitcoin rising after the Republican candidate’s victory.

I assume that Trump's victory could push the BTC rate to $92, Park wrote on his social media page.

Bitwise: Bitcoin Price to Rise to $92 After Donald Trump's Victory image 0

Chart by Jeff Park

Park's bullish forecast for Bitcoin is in line with the expectations of many experts and analysts who believe that a Trump victory will lead to a rally in the crypto market. Thus, Bitcoin -millionaire Eric Finman is confident that after the re-election of the ex-president, the BTC rate will soar to $100.

His policies will ignite the cryptocurrency market, stimulating rapid growth in all areas, Finman said.

But not everyone is so optimistic. Billionaire investor and entrepreneur Mark Cuban, who has endorsed Kamala Harris, said that if Trump wins, cryptocurrency markets will likely “pump up for a few weeks” before falling again.

Harris currently leads Trump by 538% based on 1,8 national polls. But the betting market is a different story, with the Republican nominee leading by 18,8% over the incumbent vice president.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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