Economist Alex Krüger Unveils Election Prediction for Bitcoin, Says BTC Could ‘Shoot Straight Up’ – Here’s Why

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Daily Hodl2024/11/02 16:00

By:by Alex Richardson

Economist Alex Krüger is revealing his scenarios for Bitcoin ( BTC ) during election night in the US, saying that a fast move could be coming for crypto markets.

The trader tells his 185,000 followers on the social media platform X that in the event of a Trump victory on election night, Bitcoin could “shoot straight up” immediately after.

If Kamala Harris comes out on top, Krüger says that Bitcoin will likely correct, but only temporarily before a move upward.

“Simple elections framework for Bitcoin

Trump win: BTC $90,000 by year-end, probability 55%.

Harris win: BTC $65,000 by year-end, probability 45%.

Weighted average: $79,000.

Expect the move to be fast if Trump wins. Markets rarely wait for laggards on binary events not largely front-run…

Trump win: shoot straight up.

Harris win: down then up.

Timing matters greatly if running leverage or going in big.”

The economist says that in the event of a Trump victory, his main play for the night will be to go long on Solana ( SOL ), Ethereum’s ( ETH ) biggest rival.

“This is how I’m thinking about the market. A large number of people disagree. That’s why we have a market. I’m going into election night very long spot, with no leverage, mostly allocated to Bitcoin (and Nvidia). My main election night play if Trump wins will be long SOL.”

At time of writing, SOL is trading at $165.

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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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