As Bitcoin and cryptocurrencies are in close correlation with the US elections, it is estimated that a possible Donald Trump victory could push the BTC price up to $90,000 in the short term.
On the other hand, a possible Kamala Harris victory is predicted to drop the BTC price to $40,000 levels.
The final prediction at this point came from Bitwise executive Jeff Park.
Bitcoin Will Reach $92,000!
Jeff Park, Head of Alpha Strategies at Bitwise, predicted in a recent post that the BTC price would reach $92,000 if Trump wins the US elections.
Park, who used “merger arb-style probability math” and pricing in Trump's win odds on the decentralized prediction platform Polymarket, said his app showed Bitcoin was likely to rally following Trump's election victory.
“I think a Trump victory could push BTC to around $92,000.”
Park’s bullish price prediction for Bitcoin comes amid predictions from numerous experts and analysts who expect Trump’s victory to send the price of crypto assets soaring.
At this point, Bitcoin millionaire Erik Finman also said that if Trump wins the elections, Bitcoin could rise to $ 100,000 and “His policies will ignite the cryptocurrency market and lead to tremendous growth in the entire area.”
In contrast, billionaire investor Mark Cuban, who has announced his support for Kamala Harris, said that if Trump is elected, crypto markets will likely rise for “a few weeks” but then fall. Cuban also added that Trump's economic policies could cause inflation and negatively affect the price of Bitcoin in the long run.
*This is not investment advice.
