dailyhodl.com
03 November 2024 10:24, UTC
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.
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“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.
Generated Image: Midjourney
